- If an accumulation of evidence or a shock comes, we’re prepared to change our stance
- if something crystallizes, we will assess
- Canadian firms’ adjustments to US tariffs will last at least through end-2027
- I hope the Fed retains its independence
- The USD safe haven status has been dented
- Recent USD weakness is largely driven by geopolitical events
- Governing council felt it was hard hard to assign probability to the risks to the outlook
- The era of open, rules-based trade with the US is over
- Companies are increasingly seeing that the days of open trade with the US are over
“Most countries import or export with the US, we build things together,” he said. Macklem highlighted how intermediate goods move across the border and that some goods were simply shipped through the US. That makes it tough to understand what’s happening in trade.
This article was written by Adam Button at investinglive.com.