The Bank of Canada, led by Governor Tiff Macklem, announced it will maintain interest rates at 2.75% for a second consecutive time, amidst significant uncertainties due to ongoing U.S. tariffs affecting Canadian industries. This decision follows a previous rate cut aimed at controlling inflation and responding to potential economic recession risks stemming from trade tensions. Macklem's approach focuses on navigating the delicate balance between managing inflation while addressing the economic threats posed by rising U.S. tariffs on key Canadian sectors, particularly automotive manufacturing.
Bank of Canada's Governor Tiff Macklem announces a hold on interest rates at 2.75% amid ongoing U.S. tariffs and potential economic impacts.
Macklem faces a complex challenge as U.S. tariffs threaten Canada's economy, prompting careful consideration around interest rate decisions to control inflation.
Former Governor David Dodge emphasizes the significant economic risks posed by U.S. tariffs, underscoring the potential for a trade war's impact on Canada.
Flavio Volpe, president of the Automotive Parts Manufacturers Association, expresses concern that even a rate cut won't resolve the industry's financial challenges.
Collection
[
|
...
]