The Bank of Canada is very worried about the U.S.-China trade war getting worse, Wilkins says

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Senior deputy governor says the trade war is a wild card for the global economy and trade-dependent countries like Canada

OTTAWA — A top Bank of Canada official says the economy is caught in the middle of the U.S.-China trade war — and that further escalation of global trade conflicts remain a “major preoccupation” for its policy-makers.

In explaining the decision, Wilkins said the Bank of Canada sees growing evidence that the domestic economy has been strengthening since its sharp slowdown over the winter. She said it’s largely on track to pick up its pace over the second half of 2019.“China and the United States have escalated their dispute, and Canada has been caught in the crossfire,” said Wilkins’ speech to the Calgary Chamber of Commerce.

China and the United States have escalated their dispute, and Canada has been caught in the crossfire On Wednesday, the bank reported that recent economic indicators for Canada have been unexpectedly robust.

Source: Financial Digest (financialdigest.net)

 

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