CTA urges interest rate cuts

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OTTAWA, Ont. — The Bank of Canada must moderate the value of the Canadian dollar or risk damaging export growth, says CTA CEO David Bradley.

Bradley says it is essential that the central bank cut interest rates by at least 50 basis points when it next meets Dec. 2.

"There is a 175 basis point differential between Canada-U.S. short-term interest rates, which seems to be serving little purpose other than to prop up the Canadian dollar and constrain economic activity. Inflation is low, so it does not seem to make much sense."

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