Canada's current account deficit (on a seasonally adjusted basis) narrowed by $4.6 billion in the second quarter to $8.6 billion. The reduction reflected a lower deficit in trade in goods and services and was moderated by a lower surplus for investment income. In the financial account (unadjusted for seasonal variation), inflows of funds from abroad to finance the current account deficit largely came from record foreign investment in Canadian debt securities. Borrowing needs from governments increased substantially in the second quarter to support Canadian enterprises and households affected by the COVID-19 pandemic, ... (full story)