Bank of Canada (BoC) Senior Deputy Governor Carolyn Wilkins voiced her stance of US tariffs expected to be coming down the pipe as soon as Friday, stating in an interview with Canadian press that the US tariffs are not “good news”, and the central bank will be keeping a close eye of the effect of the tariffs on consumer prices.
Household debt is still cause for concern in the Canadian economy, and the US tariffs could be poorly timed as households are still trying to claw their way out of the debt bubble formed coming out of the 2007-08 financial crisis.
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