The central bank said underlying fundamentals are strong and would support more robust investment growth were it not for the heightened trade risks and increased incentive for businesses to move investment from Canada to the United States.
Consumption and residential investment have been stronger than anticipated, reflecting strong employment growth. It is possible that solid demand might be motivating increased inputs of capital and labor and the central bank would keep a close watch on developments on this front. On the other hand, the bank predicted that Canada will see a small benefit from the recent US tax changes thanks to increased demand.
The Monetary Policy Report assessed the key risks to the economic outlook.
"We had thought that the stagnation of the economy net-net since the two rate hikes in Q3 (judging from the monthly GDP readings), signs of softness in house prices in Toronto and Vancouver areas, coupled with the strength of the Canadian dollar and NAFTA uncertainties would have removed any sense of urgency from the central bank", analysts at BBH wrote in a note to clients.
Governor Stephen Poloz stressed during a news conference that the bank remains data dependent, although he conceded that a rate hike wasn't a "no-brainer" this time around because of the NAFTA talks. The level of business investment is expected to be 2% lower by 2020 than what would otherwise be the case due to trade-policy uncertainty, the Bank of Canada estimated.
Air New Zealand says kia ora to Alexa
The Echo ($179) is the standard unit, while the Dot ($89) has all the smarts but no speaker and is created to be connected to one. Westpac also has a financial markets news product allowing you to ask Alexa for the headlines.
"It seems the Bank of Canada is leaning towards a more dovish stance and certainly playing up the concerns around NAFTA".
For 2017, it's now predicting three per cent growth, as measured by real gross domestic product, compared with its 3.1 per cent prediction in October.
The bank expects inflation to remain around 2 per cent in the months ahead. Also, the BoC expects the economy to expand 1.6 percent in 2019.
TD Bank, RBC and CIBC have all raised lending rates to customers in anticipation of the move.
Up until a couple of weeks ago, many forecasters still had doubts that Poloz would raise the rate Wednesday.
Shutdown will rest on the GOP
Many Democrats in Congress have insisted that immigration be a component of the temporary spending bill. Congress has two days to strike a deal to keep the government funded through October.
Heading into the decision Wednesday, Scotiabank Economics forecasted three hikes totalling 75 basis points throughout 2018 and three more in 2019.
The gap between the two-year yield and its USA counterpart widened by 1.7 basis points to a spread of -26.2 basis points, its widest since December 18.
Moving forward, the bank predicted household spending and investment to gradually contribute less to economic growth, given the higher interest rates and stricter mortgage rules.
The next scheduled date for announcing the overnight rate target is March 7, 2018.
Cranberries singer Dolores O'Riordan's death not suspicious
According to the managing director for Eleven Seven International, O'Riordan was looking forward to seeing him in the studio. The death is "not being treated as suspicious", the statement said, and the case has been given to the coroner's office.
Tickets for the show will go on sale in February, which is when festivalgoers can expect the rest of the Bluesfest lineup to drop. Tickets purchased before May 17 will come with a voucher for a CD or digital download of Matthews' album once it is released.
This cable, called Havfrue - Danish for mermaid - will be built by TE SubCom and is expected to come online by the end of 2019. Google plans to commission the three subsea cables in 2019, the internet giant said in a blog post .
It's going to invest $11 billion by 2022 and will offer 40 hybrid and fully electric cars in its lineup. Stephanie Brinley, a senior automotive analyst at HIS Markit, said it was a sensible move by Ford.
Last season, Madrid picked up four points, drawing 1-1 at the Santiago Bernabeu and winning 3-2 in the reverse fixture. His total La Liga goals tally now stands at just four, a third of what he had scored by this stage last term.
The 23-year-old revealed that she met the actor at the 2017 Emmy Awards after-party and later went on a date with him. The publication says Ansari allegedly ignored Grace's "verbal and non-verbal" cues to not have sex.
The Colts went 4-12 this season and missed the playoffs for the third straight year, prompting the team to fire Chuck Pagano . Colts fans have to love the success that he was able to have with Tebow given that he is much less talented than Luck.
The presidents demands come as he already has put the country on track to remove 1 million immigrants over the next two years. Democratic Party of Georgia Chairman DuBose Porter was among the state Democrats who urged Perdue to condemn the remarks.
It went on to describe the alleged interceptions as "repeated, flagrant violations of worldwide laws and conventions". Four UAE-based airlines - Emirates , Etihad, flydubai and Air Arabia - operate flights to Bahrain.
A 29 year-old woman who Donald Trump called "the best piece of tail" is among the White House best paid staffers on $179,700. But Trump accused Bannon of having "lost his mind" when news of his comments to Wolff surfaced earlier this month .
The clash broke out when farmers gathered to express their concern about lack of facilities to Congress President Rahul Gandhi. Rahul Gandhi will address a meeting at Salon in Rae Bareli where Salon Nagar Panchayat has organised a programme to greet him.
Norton returning to Seattle as defensive coordinator
He was subsequently hired by the 49ers last week as an assistant head coach before taking the job with Seattle. Mike Sullivan, the Giants' former offensive coordinator, is now the quarterbacks coach for the Denver Broncos.
Bangladesh, Myanmar agree on Rohingyas
Modalities for repatriation of orphans and children born out of unwarranted incidence have been incorporated in the arrangement. The UN describes the actions of Myanmar's forces as "ethnic cleansing", detailing rapes, killings and the burning of villages.
Syria denounces US-led coalition 'border force' plan
For much of the war, the United States and Turkey worked together, jointly supporting forces fighting against Assad's government. Its members now control territory bordering Turkey to the north, Iraq to the east, and Syrian government forces to the west.
Burning Iranian tanker Sanchi sinks
The crew, comprised of 30 Iranians and two Bangladeshis , died due to the blast and the release of toxic gas, he said . The Chinese say the ship left a 10-square-kilometre (3.8-square-mile) area contaminated with oil.
Eight more flu-related deaths reported in Iowa this week
The average age of the other 34 people who have died of the flu this season is 75 years old, cabinet officials said . You also DON'T need to visit anyone in the hospital if you have a runny nose - cough - sore throat or fever .
Flash Freeze Today And Icy Roads
Flooding was anticipated Friday in some low-lying areas of the Grand River watershed. Toronto is in for some snow, and then another blast of cold weather this weekend.