Statistics Canada says wholesale sales climbed 0.6 per cent to $64.1 billion in June following a drop of 1.9 per cent in May.

German manufacturers are reinforcing concern that Europe’s largest economy is headed into a recession.

As U.S. President Donald Trump heaps pressure on Federal Reserve Chair Jerome Powell to slash interest rates, a former senior banking executive says the impact from any cuts will be limited.

Federal Reserve officials viewed their interest-rate cut last month as insurance against too-low inflation and the risk of a deeper slump in business investment stemming from uncertainty over President Donald Trump’s trade war.

Inflation in Canada was firmer than expected last month, keeping underlying price pressure right at the central bank’s target and giving policy makers one less reason to consider immediate interest rate cuts.

More economists are coming around to the view the Bank of Canada will have to cut rates this year, with a move as early as September looking increasingly possible.