Bank of Canada holds rates
Governor stresses difficulty in being forward looking amid current uncertainty over US tariffs
Canada’s central bank held its target rates today (April 16) amid continued uncertainty over the US’s protectionist trade policies. The overnight rate is still 2.75%, the bank rate stands at 3% and the deposit rate remains at 2.70%.
“We’re navigating carefully,” Bank of Canada (BoC) governor Tiff Macklem said in his press conference. He said the bank was waiting for more information on how US tariffs would shape up. “If the situation becomes more clear, we can become more forward looking.”
Macklem
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