ContextOpening statement by Tiff Macklem, Governor of the Bank of Canada and Carolyn Rogers, Senior Deputy Governor of the Bank of Canada, at the press conference following the monetary policy decision, Ottawa, Ontario, 4 June 2025.
Why it mattersThe Bank of Canada holds its rate at 2.75% while watching how tariffs affect underlying inflation.
Problems raised
US tariffs weaken the economy.
Higher costs push inflation up.
Underlying inflation needs monitoring.
Solutions proposed
Hold the policy rate at 2.75%.
Watch underlying inflation closely.
Cut rates if the economy weakens and costs are contained.
