OTTAWA — The Bank of Canada likely would have hit pause on its interest rate lowering cycle earlier this month were it not for the substantial uncertainty around tariffs from the United States. Read More
OTTAWA — The Bank of Canada likely would have hit pause on its interest rate lowering cycle earlier this month were it not for the substantial uncertainty around tariffs from the United States. The central bank today released a summary of the discussions that led to its quarter-point rate cut two weeks ago in a
OTTAWA — The Bank of Canada likely would have hit pause on its interest rate lowering cycle earlier this month were it not for the substantial uncertainty around tariffs from the United States.
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The central bank today released a summary of the discussions that led to its quarter-point rate cut two weeks ago in a move that brought the policy rate down to 2.75 per cent.
The summary says the bank’s governing council noted the economy performed above expectations at the end of last year.
But the monetary policymakers were worried Canada’s tariff war with the U.S. had “shifted the balance” as businesses and consumers must now contend with possible hits from the trade dispute.
The governing council agreed that they “probably” would have held the interest rate steady if not for the tariff uncertainty.
The Bank of Canada’s next interest rate decision is set for April 16.
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