加拿大中央银行：2025年7月货币政策报告（英文版）

Canadian economic activity has slowed considerably because of the trade conflict but is showing signs of resilience. While inflation is close to 2%, underlying inflation has risen to about 2½%. The trade conflict disrupted the Canadian economy in the first half of 2025. In the first quarter, trade was pulled forward in anticipation of tariffs, and exports grew rapidly. As a result, Canada’s gross domestic product (GDP) rose by 2.2%. At the same time, growth in final domestic demand stalled as