OTTAWA, April 26 (Xinhua) -- The Canadian dollar on Wednesday reached its highest level since November 1991 as it climbed to 88.82 cents against US dollar on world currency markets.

    The dollar was up 0.46 of a cent from Tuesday's close.

    Traders said it was driven higher by stronger metals prices, a weaker U.S. dollar and a Bank of Canada statement Tuesday that most currency traders interpreted as being a hint for future interest rate hikes.

    On Tuesday, the Bank of Canada boosted its key overnight lending rate by a quarter of a percentage point to four percent. This marks the sixth consecutive rate increase by the central bank since last summer.

    In its economic outlook, the Bank of Canada has predicted that the Canadian economy will grow by 3.1 percent in 2006, 3.0 percent in 2007, and 2.9 percent in 2008. Enditem