Imports rose for the sixth month in a row, up 2.4 per cent in May to $49.8 billion, Statistics Canada said Thursday. Exports, meanwhile, rose for the third month in a row, up 1.3 per cent to a record $48.7 billion during the month. All in all, two-way trade between Canada and the U.S. rose to $98.5 billion in May, also a record. Economist Doug Porter at Bank of Montreal is even more confident that a rate hike is now coming. "While it may not be exactly what the doctor ordered, it's likely enough to keep the bank's expected rate hike on track."

Source: CBC News July 06, 2017 13:20 UTC