Canada holds amid uncertainty over tariffs and energy shock
Governor points to US trade policy and Iran war as known unknowns affecting trajectory of policy
The Bank of Canada has held its policy rate at 2.25%, citing uncertainty over the inflationary impact of the energy price shock and the effects on growth of ongoing trade tensions with the US.
In a statement following the decision, governor Tiff Macklem pointed to the continuing impact of the Middle East conflict on Canada’s economy. The resulting increase in energy prices and disruption to supply chains were driving up inflation and placing constraints on growth across the world. Canada also
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