Bank of Canada Lowers Key Interest Rate to 3 Percent Amid US Tariff Threat
The scenario assumes that the cost increases associated with Canada’s retaliatory tariffs will be gradually passed on to consumer prices over three years
OTTAWA—The Bank of Canada announced a 25 basis point reduction of its key interest rate, its sixth consecutive interest rate decrease since last June, while warning that the imposition of U.S. tariffs remains a “major uncertainty.”
In his opening statement on the Jan. 29 update, Bank of Canada Governor Tiff Macklem said U.S. tariffs “could be very disruptive to the Canadian economy and is clouding the economic outlook.” ---More...
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