POLOZ MULLING U.S. TARIFFS AND MORE HEADING TO RATE DECISION

Jun 27, 2018

By Michael Kramer

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Bank of Canada governor Stephen Poloz says the impacts of the escalating U.S.-Canada trade dispute will be a major factor in – deliberations for his upcoming interest-rate decision.

In a speech today in Victoria, Poloz said the bank is incorporating into its projections – the fallout of American steel and aluminum tariffs – as well as retaliatory measures by Canada and others.

There have been growing doubts Poloz will hike the trend-setting rate at next month’s meeting – due to concerns about the deterioration of the U.S. trading relationships with Canada – and other key economies around the world.

Ahead of July 11th’s rate announcement, Poloz also said the bank’s ongoing analysis of how new lending rules are affecting the housing market – and mortgage renewals at an individual level – will also be critical in the decision-making process.

 

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