BoC Governor Macklem says they have not really seen new markets open up yet for Canadian firms, it is something they are looking for
Importance
Level 1
- An AI productivity boost means the Canadian economy could grow more without adding inflation pressure.
- Welcomes nomination of Kevin Warsh for Fed Chair.
- We're clearly worried about risks to the outlook on both sides.
- The fact that some of the weakness is structural means that if we lower rates too much, that will stoke inflation down the road.
- Structural headwinds are not temporary, trade relationship with US is fundamentally fractured.
- There is concern that the large China trade surplus is unsustainable, this is not something that needs to get fixed overnight.
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