The head of the Bank of Canada has signalled a shift in how the central bank sets its benchmark interest rate at a time when tariff uncertainty with the United States has made long-term forecasting much more difficult.
Governor Tiff Macklem was in Calgary on Thursday speaking to the city’s economic development group.
The Canadian economy was in a strong position at the start of 2025 as inflation was under control and growth was picking up, he said in prepared remarks for the speech.
With the central bank’s benchmark interest rate quickly returning to lower levels, it appeared as though Canada had managed to avoid a recession….