Ontario wants the federal government to lower interest rates in an effort to curb the soaring Canadian loonie. The current federal interest-rate policy is "designed to cater to a super-heated petro-dollar" originating with Alberta's oil boom, Premier Dalton McGuinty said. McGuinty said the Canadian dollar, which cracked the $1.10 US mark on Wednesday, is hurting Ontario's economy much more so than it is Western Canada. He said Ontario would benefit from a rate curb. "From an Ontario market, we would benefit from an interest rate reduction, something that would make the Canadian dollar less attractive on the international market," McGuinty said.
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