Should we worried about our weak Canadian dollar whipping up inflation?
At the same time, the U.S. dollar has become less important to imports into Canada than it once was. America is still Canada’s biggest trading partner, but that share is slipping., the U.S. accounted for about 46 per cent of total Canadian consumption imports in 2018, down from 56 per cent in 1995. Most of this trade has gone to China which made up 12 per cent of total imports in 2018, compared to two per cent in 1995.
Even if the Canadian dollar fell against most other currencies, the impacts on inflation wouldn’t be as great as they once were, they said.Article content
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