But since 2001, exports in all of these sectors (including consumer goods) have been growing more dynamically in Germany than in France. If the traditional analysis explains very little in terms of the differences in export performance, what else accounts for these differences? Are the worried voices right after all? No, they are not.
In the event that the Fed’s renormalization does not play out smoothly in financial markets, the impact on Canada could be significant. So how will all of this influence what the Bank of Canada would do?