Canada recession

Ottawa, April 17, 2025: Canada's central bank has sounded the alarm, warning of a looming deep recession as trade tensions with the United States escalate. The Bank of Canada held its key interest rate at 2.75 percent—the first pause after seven consecutive cuts—citing uncertainty caused by U.S. tariffs and the threat of a prolonged global trade war.Governor Tiff Macklem acknowledged the gravity of the moment, calling it a “once-in-a-century economic shock.” He admitted the central bank could not offer reliable forecasts and instead laid out two stark scenarios. In the best-case outcome, tariffs are gradually rolled back through negotiation, leading…