MNI BRIEF: Canada Trains Ship 23% Less With US In Apr, 5Y Low

Canadian rail cargo shipped to and from the U.S. fell 23% in April from a year ago, the lowest since 2020 during Covid  -- just the kind of data BOC officials are tracking to keep tabs of the trade war and debate returning to interest-rate cuts.

It was the third consecutive month of double-digit declines according to Statistics Canada's report Wednesday. Growth in loadings of iron ores, wheat and coal pared the overall freight decline to 1.3%. (See: MNI INTERVIEW: Mild Stimulus Cures Canada Recession- Ex-Clerk)