RBC President McKay Warns AI's Capital Appetite Strains Canadian Economy Amid Trade Uncertainty

According to Bloomberg, Royal Bank of Canada President Dave McKay recently discussed AI-driven capital demand and its pressures on Canada's economy. McKay noted that the U.S. economy's relative strength poses greater risks for Canada, especially as the USMCA faces uncertainty and domestic demand declines. He expressed confidence that consensus between the U.S. and Canada would eventually be reached, while Canada seeks to maintain trade relations and identify growth opportunities elsewhere.
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