The central bank's rate decision arrives as Canada faces significant trade-related uncertainties, including stalled NAFTA talks, USA steel and aluminum tariffs and the threat of more duties on the automotive sector. It was the fourth rate increase in the span of 12 months. As we progress into the third quarter, the steel, aluminum, and proposed auto tariffs will remain a catalyst for movement between the loonie and the dollar.
The bank's relatively sanguine view of the trade risk boosted the Canadian dollar to its strongest in almost four weeks, and economists said they expected the central bank to hike again by year end. Overall, the Bank still expects average growth of close to 2 per cent over 2018-2020. The BoC believes USA steel tariffs will be felt in the second half of 2018 but could take longer.
Poloz recently said the impacts of the U.S. Talks to renegotiate the North American Free Trade Agreement stalled earlier this year, and Canada imposed retaliatory tariffs this month.
The Bank of Canada also has its eye on how widening global trade disputes, including an intensifying battle between the USA and China, will affect the world's economy. It warns that "escalating trade tensions pose considerable risks to the outlook" at the global level.
The Bank of Canada will also release its updated economic projections today in its latest edition of its quarterly monetary policy report.
It expects real gross domestic product to grow 2.2% in 2019, up from its April call of 2.1%, and by 1.9% in 2020, compared with its previous prediction of 1.8%.
"This should be consistent with a more firm pricing for another hike this year", said Alvise Marino, FX strategist at Credit Suisse in NY. The Bank estimates that underlying wage growth is running at about 2.3 per cent, slower than would be expected in a labour market with no slack.
"Based on our interpretation of the bank's statement, we think that policymakers envisage a somewhat faster pace of tightening, but still think that disappointing data will persuade the governor to stand pat for some time and then, eventually, to force a reversal, with rates falling next year". It's expected to settle back down to 2% in the second half of 2019.
The Israeli army said in a statement that Kerem Shalom would remain open for the transfer of approved humanitarian goods. The shuttered Kerem Shalom crossing is Gaza's main conduit for trade - albeit under years of Israeli restrictions.
Assuming 120 percent of the rookie scale, he'd be on track for a two-year deal worth $5,386,800 ($2,481,000 being the cap hit). DiVincenzo's "life is boutta change", wrote Wilson, along with a sack of money emoji.
What many business people are hoping of course, is that this sound and fury is just the start of another series of negotiations. Trade wars can draw blood in several ways. "You tax soybean exports at 25-percent, and you have serious damage to USA farmers".
Airbus is working on a rover that will collect soil from Mars and bring it back to Earth, according to reports . The Mars Ascent Vehicle will then launch from the surface and put the sample container into orbit about Mars.
Still only 21, Zverev has won three Masters 1000 titles and is firmly established as the brightest young star on the ATP Tour. His win on Saturday was his third successive five-setter having also played three matches in qualifying.
Cardi B is being represented by Paul LiCalsi , an entertainment attorney who has represented major artist such as The Beatles . Rapper Cardi B (real name Belcalis Marlenis Almanzar ) is countersuing her former manager Klenord "Shaft" Raphael .
Earlier this year, Cardi B made an appearance on the Howard Stern Show and revealed she was expecting a girl. Well now since you lil nosey f**ks know at least ya can stop saying I had a baby out of wedlock'.
And he was clearly delighted to wrap up the move, saying: "Of course, I am very happy to sign for West Ham United ". The 28-year-old scored three goals in 18 appearances for the Bundesliga side after joining in August 2017 .
When: Monday , 8 p.m. (gates open at 5 p.m.). 89th MLB All-Star Game - MLB's biggest stars take the field at Nationals Park. About: MLB stars from across the American and National leagues step up to the plate to crush some home runs.
Mike Pence: ‘I Don’t Apologize’ for Being Pro
Kavanaugh reportedly met with Vice President Mike Pence and Senate leader Mitch McConnell Tuesday morning. Court of Appeals for the District of Columbia Circuit, is his choice to succeed Justice Anthony M.
See a glacier spawn an iceberg in this dramatic video
However, this ice sheet is becoming small due to increased melting and warming temperatures in the region mean more loss of ice. This video captures data about calving events that can be used to better understand break-ups like these.
England vs Croatia Match Preview
Germany had held the title after winning the World Cup four years ago but lost their very next game, a friendly, to Argentina. I felt something unusual in my knee and after talking with the doctor on the sideline we decided I should come off.
Reds score seven runs in ninth to top Indians
Indians manager Terry Francona wanted Oliver Perez to face Votto in a lefty-lefty matchup, but there was a miscommunication. Indians: OF Lonnie Chisenhall (left calf) will miss 8-10 weeks after a second medical opinion confirmed a Grade 3 strain.
Knox narrowly beats Fox in Irish Open
The New Zealander had that putt for the title but missed on the high side and the pair were left to go back up the last. The leading four players not already exempt from the top-12 finishers qualified.