Canadian dollar hits 10-day low as jobs slide cools rate hike bets
By Fergal Smith
Published on March 13, 2026.
The Canadian dollar has hit a 10-day low against its U.S. counterpart, with investors reducing bets on interest rate hikes after a sharp decline in employment. The loonie was trading 0.6% lower at 1.3722 per U.K. dollar, marking its weakest intraday level since March 3. The Bank of Canada is expected to maintain its benchmark interest rate at 2.5% and for 2025, the market has priced in 36 basis of rate hikes, down from 44 basis points before the data. The Middle East war has fueled bets for tighter monetary policy from central banks globally, raising the prospect of increased inflation.
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