The recent falls in commodity prices mean that, after soaring in May and probably improving again in June, the trade surplus will decline in the coming months. Nonetheless, as we expect commodity prices to remain relatively high, we doubt Canada will return to running trade deficits any time soon.
Canada Drop-In (13th July): We’re holding a briefing on the Bank of Canada decision shortly after the Wednesday 13th policy announcement. Register to join our discussion about how fast and far rates will rise, housing market risks and the outlook for the loonie. Register now.
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