Inflation: Retail Industry

retail industry: The loonie dropped 0.95 of a cent to settle at 90.19 cents US, according to 660 News. Both competition in the retail industry and a lack of significant economic growth were cited as reasons for inflation remaining below target and TORONTO The Canadian dollar pulled back nearly a full cent after the Bank of Canadas decision to keep its key interest rate steady while lowering its forecast for inflation. The central bank said inflation has been lower than expected and wont return to its ideal target of two per cent until 2016 even though the domestic economy has shown signs of improvement. (www.immigrantscanada.com). As reported in the news.