Bank of Canada keeps rates on hold, Macklem cites risks
BoC governor Tiff Macklem said, since the July decision, Middle East conflict has persisted and the U.S. imposed new tariffs on Canadian exports, met with proportionate Canadian countermeasures.
BoC Governor Tiff Macklem said that since the central bank’s last decision in July, the conflict in the Middle East has continued without a clear path to resolution. He added that, closer to home, the United States has imposed new tariffs on Canadian exports and that the Canadian government has responded with proportionate counter-tariffs.