Canadian Interest Rates Cut

28 July, 2011


The Bank of Canada last week cut interest rates from 1.5% to just 1%, in line with many other central banks around the world.

Normally an interest rate cut would be good news if you need to send money to Canada, however as the move was wideley expected there was little cheer on Canadian exchange rates.

Things have improved slightly in the last 2 days, but as the Pound is still under pressure on international markets, it may be that your rate gets worse before it gets better.

A reputable currency company will help guide you through these volatile times – make sure you don’t leave your exchange rate to chance.