evrimagaci.org on Nostr: Bank Of Canada Cuts Interest Rate Again Amid Trade Tensions ========== The Bank of ...
Bank Of Canada Cuts Interest Rate Again Amid Trade Tensions
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The Bank of Canada has cut its key interest rate by 0.25% to 3% on January 29, 2025, marking the sixth consecutive reduction since June 2024. The rate had been held steady at 5% since July 2023. Low inflation rates around 2% and supply exceeding demand are key factors for this decision. Governor Tiff Macklem noted that U.S. tariffs threaten economic stability, with President Donald Trump proposing a 25% tariff on Canadian imports. The central bank revised GDP growth estimates down to 1.8% for 2025 and 2026, from previous forecasts of 2.1% and 2.3%. Potential tariffs could reduce Canada’s GDP by 2.4% in the first year. The Bank of Canada is cautiously optimistic about future rate cuts, while monitoring both domestic and international economic indicators.
#BankOfCanada #InterestRate #TradeTensions #GdpGrowth #Inflation #TiffMacklem #UsTariffs #EconomicPolicy #Canada #2025
https://evrimagaci.org/tpg/bank-of-canada-cuts-interest-rate-again-amid-trade-tensions-167202
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The Bank of Canada has cut its key interest rate by 0.25% to 3% on January 29, 2025, marking the sixth consecutive reduction since June 2024. The rate had been held steady at 5% since July 2023. Low inflation rates around 2% and supply exceeding demand are key factors for this decision. Governor Tiff Macklem noted that U.S. tariffs threaten economic stability, with President Donald Trump proposing a 25% tariff on Canadian imports. The central bank revised GDP growth estimates down to 1.8% for 2025 and 2026, from previous forecasts of 2.1% and 2.3%. Potential tariffs could reduce Canada’s GDP by 2.4% in the first year. The Bank of Canada is cautiously optimistic about future rate cuts, while monitoring both domestic and international economic indicators.
#BankOfCanada #InterestRate #TradeTensions #GdpGrowth #Inflation #TiffMacklem #UsTariffs #EconomicPolicy #Canada #2025
https://evrimagaci.org/tpg/bank-of-canada-cuts-interest-rate-again-amid-trade-tensions-167202