Bank of Canada’s head says rate pause a result of ‘shock-prone’ world
Global News
Governor Tiff Macklem of the Bank of Canada was interviewed after the central bank held its overnight lending rate at 2.75 per cent for the second straight meeting.
Tiff Macklem is wearing an Edmonton Oilers pin as he reflects on coming very close to beating big odds.
It’s a significant day for the governor of the Bank of Canada: he’s just laid out his reasons to the entire country and a global audience for keeping the central bank’s benchmark interest rate steady for a second straight time.
That night is also Game 1 of the NHL’s Stanley Cup finals; Macklem ends his press conference with a hearty “Go Oilers!”
It’s a rematch from last year’s heartbreak, when the Oilers came oh-so-close to mounting a seemingly impossible four-game comeback against the Florida Panthers, only to fall short by a single goal in Game 7.
Macklem, too, was almost safe to declare victory last year.
He had just about secured a coveted “soft landing” for Canada’s economy — a rare feat that sees restrictive monetary policy bring down surging levels of inflation without tipping the economy into a prolonged downturn.
“We got inflation down. We didn’t cause a recession,” Macklem said in an interview with The Canadian Press after the rate announcement Wednesday.
“And, to be frank, until President (Donald) Trump started threatening the economy with new tariffs, we were actually seeing growth pick up.”
Danielle Smith's ongoing effort to re-make, re-assemble and re-animate the pieces of the health-care system hasn't been the Alberta premier's only challenge in 2025.
E-Comm handles 99 per cent of 911 calls in B.C., accounting for about two million calls a year.
The 47-year-old Toronto woman was skiing at Sunshine on Dec. 27 when she fell off of the side of a green run and into a deep area of snow at the resort in Banff National Park.
OPP say they were called Sunday morning to an area in Head, Clara and Maria Township after the remains were discovered.
Around 8:30 a.m., the RCMP issued the warning for Big Island Cree Nation and the surrounding area, which is 3.5 hours from Edmonton and four hours from Saskatoon.
Hydro One says challenging road conditions are slowing down crews in some areas, and its outage map shows some 15,000 customers remain without power as of this morning.
Much of Canada has been blasted with a number of weather systems over the last week, ranging from blizzards and cold snaps to freezing rain.
Prime Minister Mark Carney met with leaders from Europe on U.S.-led peace efforts to end the nearly four-year war between Russia and Ukraine.
The RCMP union says the Alberta Next panel is trying to revive an idea already been rejected by Albertans, using outdated references and inaccurate policy to justify its stance.
Other police forces in Canada have implemented mandatory alcohol screening since the Criminal Code was amended in 2018 to allow for breathalyzers without cause in traffic stops.
Officers with the Gimli RCMP were asked to perform a wellness check at a home near Narcisse around 10 a.m. on Dec. 24. They arrived to find the home completely burned down.
The lawyers for the fans say the settlement remains subject to court approval at an upcoming hearing, and that the Whitecaps and MLS continue to deny wrongdoing or liability.
Six in 10 Canadians said they are looking to buy a new car in the next five years, with more than three-quarters worried that U.S. trade tensions will make vehicles unaffordable