TV Interview: Finance Minister Jim Flaherty

Finance Minister Jim Flaherty: The loonie was off 0.11 of a cent at 93.88 cents US as traders also took in comments Sunday from federal Finance Minister Jim Flaherty, who said in a TV interview that Canada could face global pressure to raise interest rates in 2014, according to Times Colonist. But pressure to raise rates could come sooner as the U.S. Federal Reserve lets up on its massive US$85 billion of bond purchases and the American economy improves, which in turn would help the domestic economy and TORONTO - The Canadian dollar closed lower Monday at the start of heavy week for economic data. The central bank, which works closely with the Finance Department but is historically an independent policy-maker, has signalled that rate hikes are not likely until next year. (www.immigrantscanada.com). As reported in the news.