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Poloz Predicts Export Pick-Up Even as Trump Ramps Up Trade War

Luke Kawa
Poloz Predicts Export Pick-Up Even as Trump Ramps Up Trade War

The central bank is expecting robust demand from the U.S. to trump the intensifying drag on trade from tariffs the two neighbors have imposed on each other, as well as the uncertainty over whether their long-standing free trade pact will be dissolved. In its July Monetary Policy Report, policy makers estimated exports will contribute 0.5 percentage points to growth this year, up from zero in its April forecast. The bank raised its forecast for U.S. growth to 3.1 percent from 2.7 percent.