Lower for Longer Now Applies to Canada’s Exports, Not Just Rates
- Central bank says global demographics have domestic impact
- Poloz cites ‘permanent shortfall’ on trade in standing pat
Lower for Longer Now Applies to Canada's Exports
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The Bank of Canada has spent more than two years warning anyone who would listen -- households, pension funds, governments -- that it’s time to adapt to a new normal of slower growth and persistently lower interest rates.
Now, the bank has accepted that these same demographic factors suppressing global growth in advanced economies, including the U.S., also entail a slower rise in Canadian exports.