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BOC State of Play: NAFTA Threat Vs Tighter Labor Market
While statistics since the December monetary policy meeting have provided further evidence of the diminishing slack in the Canadian labor market amid growing business confidence, renewed concerns this week over the U.S. pulling out of NAFTA reminded that global uncertainties are more likely than not to continue to keep the Bank of Canada on the "cautious" side. However, Governor Stephen Poloz has clarified that "cautious" did not mean still. The question is whether the ongoing improvement in the labor market and rising underlying inflation will outweigh the global uncertainties, especially related to NAFTA, that were ... (full story)