rote SNOW TRAILS | a on tas Wi eens cial institutions to see where they think the Canadian economy is going. A year ago, the headline over the board's account of its survey said: “Canadian economy poised for healthy Yast March Oat serous What's the tine, then, of First, you have to rémember th spring, the headline was backtracking: “Economy poised for growth,” it said. needs ‘That's still encouraging, but growth isn't exactly the huge government deficits and losses on trade. same as healthy recovery. The latest headline? “Forecasters see slower pace of economic growth.” Translation: The experts were retreating with a8 much The deficits are expected to amount to about $175 billion, and the trade loss another $75 billion, Even for the U.S. economy, that’s a lot of bucks. So by keeping interest rates high, the U.S. syphons off dignity as possible, trying to cover their exposed flanks with currencies from other countries — including Canada. That sheets of statistics. keeps demand for the U.S. dollar strong, and so raises its During the last few months, those ee have been changing, with a vengeance. Secondly, they al have a place tn shoring where the experts think the country is going, and_why. ‘Petes opininnn ait attat gesiicaaanl Wiping be teria, of developing policies. They may not be right — no one is The next headline, three months down the tine, is likely price while lowering the value of other currencies which are perfect — but at the very least they offer an option for gov- to be a lot grimmer being offered for what they can get. Money Monitor By ANDREA GORDON The Canadian Press You've finished work, the bags are packed, the airplane tickets are tucked safely in your breast pocket. Now it's just a question of money For many Canadians heading out of the country, the most bewildering task before departure is trying to decide when and where to convert currency The growing acceptance of credit cards around the world is one option. You can use your card to buy goods abroad and let the card companies convert the cost of your purchase into Canadian dollars before sending you your monthly statement But should you just take a little cash and rely on your credit card or go heavy on travellers’ cheques and save the card for emergencies? Bob Auld, president of the Alliance of Canadian Travel Associations, says there are no hard and fast rules when it comes to buying foreign currency. However, there are ways that Canadians stung by their own slumping currency can save a few dollars — though you may pay the price in loss of convenience. TRY THE DEALERS When it comes to traveller's cheques and cash, your best bet may be to head for foreign exchange dealers such as Deak-Perera, which doesn't charge commission and carries cheques in 12 currencies and cash in 123. But you have to pay Deak, located in most major cities, in cash or certified cheque. Buying travellers’ cheques — the major ones are American Express, Visa and Thomas Cook — at any of the major banks — generally will cost you one per cent in commission, says Roy Howard, a Bank of Montreal spokesman. That means if you buy $1,000 (Canadian) worth of traveller's cheques. you pay $10 commission. But if it's easier to write a cheque on your account and get the task over with all at once, who wants to gripe about a few bucks? And traveller's cheques are safe and negotiable almost anywhere. The major companies say if the cheques are lost or stolen, they can usually be replaced within 24 hours at offices all over the globe that operate around the clock. American Express even includes accident insurance if you buy their travellers’ cheques. Meanwhile, credit card issuers want people to “charge it” wherever they go, saying that often they can get customers foreign currency at lower prices than the banks. TRADE CURRENCY Companies like Visa and American Express trade large amounts of currency and the bulk rate at which they trade can be lower than the rate for travellers’ cheques and cash you buy at a bank But Chris Donald, spokesman for the Canadian Imperial Bank of Commerce, which issues Visa cards, says that while that's usually the case, don't always count on getting cheaper rates with a card. And if you use American Express or MasterCard charge cards, you'll be charged commission on the conversion, so it may work out the same as buying trav ellers’ cheques. American Express charges one per cent and Master Card half that; Visa is commission-free All three cards are widely accepted but a solid credit rating with American Express can get you limitless cash in emergencies while the others have restrictions. ‘There's another hitch to paying your way ona charge card: you get stuck with the exchange rate at the time the bill is processed That means if the Canadian dollar starts to nosedive and a hefty tab from Florida happens to be processed through a few months later, you lose. Card companies won't wait until the Canadian currency gets stronger to give you a better exchange rate ITS A GAMBLE By the same token, if you've spent money on your card in a country that subsequently has its currency de vatued, you may stand to win. Either way it's a gamble But the lag ean work in a card_user’s favor in another way Sometimes it takes a few months for bills from other countries to find their way to your mailbox, and in the meantime, you keep your money and earn interest or defer payments you might be unable to afford immedi ately If you buy travellers’ cheques, it’s financial institu tions that get the advantage of the float — they take your cash and invest it until you actually use the cheques and they are presented for payment. HOMEGOODS FURNITURE "(WAREHOUSE Toes. *Sat,, 9:30 - 5:30 China Creek ‘Drive a Little to Save alot DISCOVERY 1/3 TO 1/2 OFF The Old West rides again this Thursday at with Discovery Day sale prices. Better not get fenced in this “Bpursday, ‘cause the Bay's the place to be for wide open savings on hundreds of items from summer fashions to great outdoor gear! THURSDAY ONLY AT ALL BAY S STORE HOURS to Sepurdion 50 ore, & to.5:30 p.n mn. 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