The most worrisome comments from Bank of Canada Governor Tiff Macklem last week were about his outlook for the United States.
“In the last couple of weeks with the rapid rise in cases of coronavirus in the U.S., we did take down our U.S. projection,” Macklem said on July 15. “That does spill back into Canada. Exports are an important component of GDP in Canada and we have taken that into account in the central scenario.”
Canada’s economy generally goes where our domineering neighbour takes it.
Continue reading at the Financial Post ...