Bank of Canada warns Q4 growth could be halved by US tariffs

Macklem: Tiff Macklem is the Governor of the Bank of Canada, overseeing the central bank's monetary policy and public communications on economic conditions. In recent remarks, he assessed how new US tariffs could impact Canadian growth prospects in the fourth quarter. Macklem continues to emphasize the bank's commitment to price stability amid trade uncertainties and other external pressures. Bank of Canada: The Bank of Canada is Canada's central bank responsible for formulating and implementing monetary policy to achieve price stability and support sustainable economic growth. Governor Tiff Macklem recently addressed economic developments in a speech to the Halifax Partnership, focusing on the effects of US tariffs. The institution has held its policy rate steady in recent decisions while monitoring risks from trade tensions and global events. Trade Policy: The current US administration maintains protectionist tariffs on Canadian exports, prompting counter-measures from Canada. Monetary Policy: The Bank of Canada is closely tracking inflation risks tied to trade disruptions and energy price movements in its policy deliberations. Economic Outlook: Canadian businesses are showing initial signs of adapting to the ongoing tariff environment.