The Financial Post reports in its Tuesday edition that a new Business Outlook Survey of executives by the Bank of Canada -- and the last significant economic indicator before an interest-rate decision next week -- suggests most companies are tuning out President Donald Trump's harangues about "horrible" commercial agreements and his threats to correct the alleged unfairness with tariffs. The Post's Kevin Carmichael writes that the survey, however, was done between early February and early March, before the United States and China squared off for a trade war. Seventy-one per cent of respondents told the BOC they had so far been unaffected by U.S. policy announcements or uncertainty about what the Trump administration might have in store; about 9 per cent said they had been helped by policy changes, presumably last year's tax cuts, various regulatory changes or both. Governor Stephen Poloz and his deputies have been clear that they the intend to raise borrowing costs, the only question is the timing. Evidence that business confidence is buoyant even in the face of constant harassment removes a hurdle to nudging the benchmark rate higher, if not next week, then perhaps at the following policy announcement on May 30.
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