The Bank of Canada has expressed that the ongoing trade war with the U.S. threatens Canada’s financial stability, warning of severe consequences such as market dysfunction and pressure on the banking system. U.S. tariffs on essential Canadian industries have raised concerns about potential inflation. Despite a recent rate cut, Canada’s interest rate is currently at 2.75 percent, unchanged for two months as the bank seeks to accommodate ongoing trade uncertainties and economic impacts. Governor Tiff Macklem highlighted the need for careful deliberation on monetary policy as the economic situation evolves.
The Bank of Canada warns that the ongoing trade war with the U.S. poses a significant risk to financial stability and could lead to market dysfunction.
Bank of Canada governor Tiff Macklem faces challenges balancing interest rates amid U.S. tariffs impacting inflation and the Canadian economy.
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