Macklem: Opening Statement before the House of Commons Standing Committee on Finance | Metals Mine

  • Macklem: Opening Statement before the House of Commons Standing Committee on Finance

    From bankofcanada.ca Story is in PDF Format

    Good afternoon. I’m pleased to be here with Senior Deputy Governor Carolyn Rogers to discuss our recent policy announcement and the Bank of Canada’s Monetary Policy Report. Last week, we lowered the policy interest rate 25 basis points, bringing it to 2¼%. This was our second straight cut and reflects ongoing weakness in the economy and contained inflationary pressures. We also published our outlook for the Canadian economy. In this context, we have four main messages. First, US tariffs and trade uncertainty have weakened the Canadian economy. We expect very modest growth through the rest of the year, with some ... (full story)

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