Canada reported a larger-than-expected trade deficit of $924 million in October, marking the eighth consecutive month of trade shortfalls. Despite a rise in exports and higher prices, imports increased, leading to a continued trade deficit.
Canada announced a larger-than-projected trade deficit of $924 million in October, marking the eighth consecutive month of trade shortfalls. Despite a 1.1% rise in exports, mainly due to metal and non-metallic mineral products, which could not surpass a 0.5% increase in imports, Canada experienced a deficit. This comes as the Canadian economy underperformed the central bank's third-quarter growth forecast. The Bank of Canada has lowered borrowing costs by 125 basis points since June, to 3.
75%, as inflation approached its 2% target. However, concerns about economic slowdown are growing, leading to a 36% chance of a further 50 basis point rate cut in December
Trade Deficit Canada Economic Slowdown Inflation Interest Rates
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