The Bank of Canada's most favored measures of core inflation are likely to slow in July for the first time in 10 months as base effects work in their favor, a milestone that could sway the bank to leave rates on hold at its next policy decision. In tracking core inflation, the BoC has been particularly focused on the annualized three-month rates of the weighted median and the trimmed mean, which filter out components with extreme price movements and are more timely than the year-over-year rates that are typically observed. Such an outcome could see the BoC returning to the sidelines at its next interest rate announcement on Sept. 6, said Benjamin Reitzes, Canadian rates & macro strategist at BMO Capital Markets.
(Adds economist comments, Canadian dollar update)
OTTAWA, May 4 (Reuters) - Canada’s trade balance shifted back to a deficit in March following two consecutive months of surplus as imports jumped significantly while exports edged up slightly, Statistics Canada said on Tuesday.
Canada’s trade deficit with the world was C$1.1 billion ($892.21 million) in March. Analysts polled by Reuters had predicted a surplus of C$700 million after a revised C$1.42 surplus in February.
Imports rose 5.5% to their highest level since May 2019, driven by energy imports, though all 11 sectors posted increases, Statistics Canada said. Exports edged up 0.3%, mostly on motor vehicles and parts, offset by falling energy exports.
Canada's trade balance shifted back to a deficit in March following two consecutive months of surplus as imports jumped significantly while exports edged up slightly, Statistics Canada said on Tuesday.
Canada returns to trade deficit position in March as imports surge
05/04/2021 | 09:50am EDT
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OTTAWA (Reuters) -Canada s trade balance shifted back to a deficit in March following two consecutive months of surplus as imports jumped significantly while exports edged up slightly, Statistics Canada said on Tuesday.
Canada s trade deficit with the world was C$1.1 billion ($892.21 million) in March. Analysts polled by Reuters had predicted a surplus of C$700 million after a revised C$1.42 surplus in February.
Imports rose 5.5% to their highest level since May 2019, driven by energy imports, though all 11 sectors posted increases, Statistics Canada said. Exports edged up 0.3%, mostly on motor vehicles and parts, offset by falling energy exports.