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The loonie is at a nearly 2-year low. What does that mean for inflation?

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As Canada’s loonie falters against the surging U.S. dollar, experts say the effect could worsen inflation on some goods imported from south of the border.

The Canadian dollar is sitting at 75 cents compared to the U.S.-dollar benchmark as of Tuesday, a nearly two-year low for the loonie.

Economists say there could be a few reasons for the Canadian dollar’s weakness. Read more: Inflation slowed on lower gas prices in August, but cost of food still surging RBC assistant chief economist Nathan Janzen tells Global News that Canadian oil exports have historically been a “big driver” for the dollar’s value and lower prices at the pumps have not helped loonie.

But he and other economists who spoke to Global News point to the relative strength of the U.S. greenback — not the loonie’s weakness — as driving the two currencies apart. “The U.S.

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Sri Lankans - Novel by Sri Lanka’s Shehan Karunatilaka wins Booker Prize - newsfirst.lk - Usa - Sri Lanka - Britain
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Novel by Sri Lanka’s Shehan Karunatilaka wins Booker Prize
Colombo (News 1st) – Sri Lankan Writer Shehan Karunatilaka won the prestigious Booker Prize for fiction on Monday (17) for “The Seven Moons of Maali Almeida,” a satirical “afterlife noir” set during Sri Lanka’s brutal civil war.Karunatilaka, one of Sri Lanka’s leading authors, won the 50,000 pound ($57,000) award for his second novel. The 47-year-old, who has also written journalism, children’s books, screenplays and rock songs, is the second Sri Lanka-born Booker Prize winner, after Michael Ondaatje, who took the trophy in 1992 for “The English Patient.”Karunatilaka received the award from Camilla, Britain’s queen consort, during a ceremony at London’s Roundhouse concert hall.The judges’ unanimous choice, “The Seven Moons of Maali Almeida” is the darkly humorous story about a murdered war photographer investigating his death and trying to ensure his life’s legacy.Karunatilaka said Sri Lankans “specialize in gallows humor and make jokes in the face of crises”.“It’s our coping mechanism,” he said, and expressed hope that his novel about war and ethnic division would one day be “in the fantasy section of the bookshop.”Former British Museum director Neil MacGregor, who chaired the judging panel, said judges chose the book for “the ambition, the scope and the skill, the daring, the audacity and the hilarity of the execution.”“It’s a book that takes the reader on a rollercoaster journey through life and death, right to what the author describes as the dark heart of the world,” MacGregor said.
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