16
Apr
Toronto, April 17, 2025 — The Bank of Canada froze its key interest rate at 2.75% on Wednesday, marking its first pause after seven consecutive rate cuts. The central bank cited major global uncertainties—particularly U.S. President Donald Trump’s sweeping tariffs—as the reason for halting its usual forward-looking economic projections.Governor Tiff Macklem said the bank would adopt a wait-and-watch approach. “The future is really no clearer,” he said, pointing to the unpredictable nature of trade tensions. With no clarity on how long the tariffs would last or whether they might intensify, the Bank of Canada replaced its quarterly economic outlook with…