Bank of Canada takes a cautious approach to rates amid tariff uncertainty.
The unpredictability of the United States’ trade war and signs of creeping inflation kept the Bank of Canada’s interest rate on hold for a second consecutive decision on Wednesday — even as the central bank braces for an economic hit.
Bank of Canada governor Tiff Macklem said there was a “clear consensus” among monetary policymakers to leave the policy rate unchanged at 2.75 per cent as they wait for more information on the economic impact of tariffs.