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, 29 April 2026.
Why it mattersStates explicitly the conditions under which the Bank of Canada would consider lowering rates.
Problems raised
US tariffs weigh on exports and investment.
Higher gasoline and food prices lift near-term expectations.
High oil prices could become generalised inflation.
Solutions proposed
Hold the policy rate at 2.25%.
Cut rates if new US trade restrictions hit growth.
Prevent energy prices from turning into persistent inflation.
