Many members worried
about weak exports and business spending.
Not exact matches
Poloz says the only rate he cares
about is inflation, and virtually every piece of official communication from the central bank notes the boost that non-energy
exports are getting from the
weaker exchange rate.
Perhaps the biggest one is that the market for the bulk of Canada's
exports, amounting to
about 25 per cent of Canadian GDP, namely the United States, is currently very
weak.
With crude - oil
exports rising year - over-year, the value of the
exports did not rise proportionally, with Canada's crude - oil
export bill declining
about 11 percent to $ 50 billion in 2016 compared to $ 55.8 billion the previous year, as lower crude prices and a
weaker dollar cramped the
export value of crude.
Weaker demand for
exports will raise new questions
about the Chinese government's ability to meet its growth target of
about 6.5 per cent.
The country ships
about 25 % of its
exports to China, and
weak demand there will hurt manufacturers.