Bank of Canada cuts interest rate, warns it can do little to offset U.S. tariff impact
Canada's central bank lowered its interest rate by 25 basis points to three per cent on Wednesday, as the Bank of Canada governor warned there is little he can do to negate the economic impact of U.S.
Top Bank of Canada officials speak after latest interest rate cut
Below are some key quotes from a news conference by Bank of Canada Governor Tiff Macklem and Senior Deputy Governor Carolyn Rogers on Wednesday after the central bank cut its key policy rate by 25 basis points to 3%.
Bank of Canada Can Ease Tariff Pain But Can’t Fix Damage, Macklem Says
Bank of Canada Governor Tiff Macklem says the central bank can’t repair the economic damage of a trade war with the US — but he’ll do his best to make it less painful.Most Read from BloombergTrump's F
Bank of Canada cites Trump tariff threats in decision to cut key interest rate to 3%
Bank of Canada governor Tiff Macklem said that there is not much central bankers can do to offset the economic consequences of a trade war with the U.S.
Bank of Canada to Downsize Cuts as Tariffs Brew: Decision Guide
The Bank of Canada is likely to cut interest rates by a quarter percentage point on Wednesday as officials lay out their analysis of how US tariffs might derail a soft landing for the Canadian economy.
Bank of Canada cuts rates as it warns trade war 'would badly hurt economic activity in Canada'
“A long-lasting and broad-based trade conflict would badly hurt economic activity in Canada. At the same time, the higher cost of imported goods will put direct upward pressure on inflation,” Bank of Canada Governor Tiff Macklem said in a prepared opening statement on Wednesday.
Bank of Canada cuts rates, says tariffs could stoke persistent inflation
The Bank of Canada on Wednesday trimmed its key policy rate by 25 basis points to 3%, cut growth forecasts and said it was concerned that U.S. tariffs could stoke persistently high inflation. U.S. President Donald Trump is promising to impose a 25% tariff on all imports from Canada on Saturday.
Bank of Canada Cuts Rates, Warns of Economic Shock From Trade Conflict
The Bank of Canada on Wednesday cut its benchmark rate for a sixth straight time, and warned of a significant shock to the economy from a U.S.-Canada trade conflict with tariffs of up to 25%.
What a sixth Bank of Canada interest rate cut could mean for mortgages as tariffs loom
The tariff threat, coupled with cost-of-living constraints that remain front and centre for many Canadians, might blunt the effects of another rate reduction.
Bank of Canada governor says trade fight with U.S. would be 'complex shock'
Bank of Canada governor Tiff Macklem says a protracted trade conflict with the U.S. would be a 'complex shock' for monetary ...
BoC Governor Macklem: Tariffs threat weighed on the bank's decision
The central bank lowered its key policy rate to 3.25% in response to slowing economic growth. Governor Tiff Macklem signaled ...
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Canada's economy contracts by 0.2% in November
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Bank of Canada (BoC)
Tiff Macklem was born in Montréal, Quebec, in 1961. He was appointed Governor of the Bank of Canada, effective 3 June 2020, for a seven-year term. He is the tenth governor of the Bank of ...
Canadian dollar edges lower as BoC cuts rates on tariff risk
The Canadian dollar weakened against the greenback on Wednesday as the Bank of Canada cut interest rates to support the economy ahead of expected U.S. trade tariffs, helping to widen the gap between ...