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Central bank official says trade protectionism would weigh on growth but push up inflation, creating trade-offs
OTTAWA—A breakdown in talks toward a revised North American Free Trade Agreement wouldn’t necessarily prevent the Bank of Canada from raising interest rates, a senior official from the central bank said Thursday.
The Canadian dollar strengthened against the U.S. dollar shortly after the remarks were released, in a sign traders believe another rate increase, as soon as October, is in the offing.