\n
You can save this article by registering for free here. Or sign-in if you have an account.<\/p>\n<\/div>\n<\/div>\n
<\/source><\/source><\/source><\/source><\/source><\/picture>Carolyn Rogers, senior deputy governor of the Bank of Canada, left, and Tiff Macklem, governor of the Bank of Canada, during a news conference in Ottawa on Oct. 23, 2024.<\/span> Photo by David Kawai\/Bloomberg<\/span><\/figcaption><\/figure>\n<\/div>\n<\/header>\n\nArticle content<\/h2>\n The Bank of Canada\u2019s governing council members think Canada\u2019s economy will be hurt more by a protracted trade war than that of the United States, according to minutes released by the central bank on Wednesday.<\/p>\n<\/section>\n\nArticle content<\/p>\n<\/section>\n\nArticle content<\/p>\n
\u201cGDP would be lower in both Canada and the United States, but the GDP loss would be significantly larger for Canada because Canada has a more open economy, and its exports are so concentrated with the United States,\u201d the minutes said. \u201cGoverning Council members also noted that the adverse impact on the level of GDP would be permanent, and the growth of GDP would be reduced until the Canadian economy adjusts to the tariffs.\u201d<\/p>\n<\/section>\n
\n
\nAdvertisement 2<\/p>\n
\n
\n
\n
\n
This advertisement has not loaded yet, but your article continues below.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n
\n
\n\n<\/p>\n
\n
THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY<\/p>\n
Subscribe now to read the latest news in your city and across Canada.<\/p>\n
\nExclusive articles from Barbara Shecter, Joe O’Connor, Gabriel Friedman, and others.<\/li>\n Daily content from Financial Times, the world’s leading global business publication.<\/li>\n Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.<\/li>\n National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.<\/li>\n Daily puzzles, including the New York Times Crossword.<\/li>\n<\/ul>\n<\/div>\n\n
SUBSCRIBE TO UNLOCK MORE ARTICLES<\/p>\n
Subscribe now to read the latest news in your city and across Canada.<\/p>\n
\nExclusive articles from Barbara Shecter, Joe O’Connor, Gabriel Friedman and others.<\/li>\n Daily content from Financial Times, the world’s leading global business publication.<\/li>\n Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.<\/li>\n National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.<\/li>\n Daily puzzles, including the New York Times Crossword.<\/li>\n<\/ul>\n<\/div>\n\n
REGISTER \/ SIGN IN TO UNLOCK MORE ARTICLES<\/p>\n
Create an account or sign in to continue with your reading experience.<\/p>\n
\nAccess articles from across Canada with one account.<\/li>\n Share your thoughts and join the conversation in the comments.<\/li>\n Enjoy additional articles per month.<\/li>\n Get email updates from your favourite authors.<\/li>\n<\/ul>\n<\/div>\n\n
THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.<\/p>\n
Create an account or sign in to continue with your reading experience.<\/p>\n
\nAccess articles from across Canada with one account<\/li>\n Share your thoughts and join the conversation in the comments<\/li>\n Enjoy additional articles per month<\/li>\n Get email updates from your favourite authors<\/li>\n<\/ul>\n<\/div>\n<\/div>\n<\/header>\n