Bank of Canada's Macklem Warns of Weaker Growth Without Tariff Resolution
BANFF, Alberta–Bank of Canada Gov. Tiff Macklem said Thursday the economy risks weakening further unless there is a relatively quick resolution to the U.S.-Canada trade conflict.
Following the end of the Group of Seven meeting of finance and central bank chiefs, Macklem said he expects first-quarter gross-domestic data to show weak consumer spending and business investment, which will be partly offset by a buildup in inventories as companies sought to escape retaliatory tariffs on U.S. imports.
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