Canadian economy

28 Jan

Bank of Canada Holds Interest Rate at 2.25%, Sees Slow Recovery After U.S. Tariff Shock

Rajeev Sharma0 CommentsCanadaBank Of Canada, Canadian economy, inflation outlook, Interest rates, policy rate, Tiff Macklem

Ottawa (Rajeev Sharma): The Bank of Canada held its benchmark interest rate steady on Wednesday, maintaining the policy rate at 2.25 per cent, while forecasting a gradual recovery the Canadian economy following the impact of U.S. tariffs The decision marks the central bank’s first rate announcement of the year and was widely anticipated by economists. The bank paused its rate-cutting cycle in December, and Governor Tiff Macklem said recent economic developments have largely unfolded in line with expectations. However, Macklem cautioned that uncertainty remains “unusually high,” citing ongoing geopolitical risks and the upcoming review of the Canada-U.S.-Mexico Agreement. He said…

12 Feb

Canadian Cities Face Major Economic Risks from U.S. Tariffs: Chamber of Commerce Report

nishuthapar10 CommentsCanadaCanada, Canadian economy, Steel and Aluminum tariffs, trade war, U.S. tariffs on Canada

Ottawa, February 12, 2025: A new study by the Canadian Chamber of Commerce has identified Calgary, Saint John (N.B.), and Windsor (Ont.) as the most vulnerable cities to U.S. tariffs, particularly in the oil, automotive, and manufacturing sectors. The U.S. Tariff Exposure Index, based on Statistics Canada trade data, assessed the impact of former President Donald Trump’s proposed 25% tariffs on all Canadian imports, which have now been enforced on steel and aluminum.Saint John, N.B., is the most at-risk city, home to Canada’s largest crude oil refinery, which exports over 80% of its output to the U.S. Other key exports…