MNI BRIEF: BOC Is Moving Carefully On Rates Amid Trade Fight

Bank of Canada Governor Tiff Macklem said Thursday he will move policy carefully as the extent of damage from the U.S. trade war remains unclear, adding economic growth will be "soft" in the second half of this year.

While most Canadian goods still cross the U.S. border tariff-free, targeted items like autos, metals and lumber face steep levies and “that is having a very clear impact,” Macklem told the Peterson Institute for International Economics in Washington. (See: MNI INTERVIEW: Further BOC Cut Unclear In Trade War Fog-Mendes)