Canada's Central Bank Holds Fire Amid Trade Turmoil

The Bank of Canada held its policy rate steady at 2.25 percent last week, in line with market expectations.

However, without the breakdown in trade negotiations between Canada and the US, the data might have supported a rate hike.

Gross-domestic-product growth came in above estimates at 3.3 percent on an annualized basis for the second quarter, reversing first-quarter weakness.

The increase was driven by strong business investment growth of 9.5 percent and higher exports of 14.3 percent.