Monetary Policy Decision Press Conference Opening Statement

From bankofcanada.ca

Good morning. I’m pleased to be here with Senior Deputy Governor Carolyn Rogers to discuss our policy decision. Today, we lowered the policy interest rate by 25 basis points, bringing it to 2.75%. The Canadian economy ended 2024 in good shape. Inflation has been close to the 2% target since last summer. Substantial cuts to our policy rate through the second half of last year boosted household spending and economic growth. However, in recent months, the pervasive uncertainty created by continuously changing US tariff threats has shaken business and consumer confidence. This is restraining household spending ... (full story)