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, 17 September 2025.
Why it mattersThe Bank of Canada cuts its policy rate to 2.5% as tariffs weaken the economy, explaining how it balances growth and inflation risks.
Problems raised
The Canadian economy has weakened.
US tariffs are used as geopolitical pressure.
Trade disruptions may push up costs.
Solutions proposed
Cut the policy rate by 0.25 point to 2.5%.
Balance risks between growth and inflation.
Monitor exports, investment and inflation expectations.
