Delaying interest rate hikes would force the central bank to raise rates more quickly and to a higher level if inflationary pressures prove stubborn, Macklem said. The Governor added that failing to act early on borrowing costs would likely result in a higher total increase in rates than an earlier adjustment would require.
Tuesday, October 20, 2026
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Bank of Canada Cuts Q4 Growth Forecast to 0.75% on US Tariffs
Global Markets29 days ago
Governor Tiff Macklem lowered the economic outlook for Canada's final three months of the year, citing the risk that trade barriers from Washington could halve expansion. The Bank of Canada revised its fourth quarter annualized growth forecast to 0.75%, noting that new tariffs could push growth below 1% if they remain in place.
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