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| Canada leaves interest rates unchanged, warns of unpredictable US |
| Ottawa, 27.01.2026 |
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| Canada's central bank left its key interest rate unchanged at 2.25% on Wednesday, as expected. The bank warned that the country's economy remains at risk from "unpredictable US trade policies." After a series of rate cuts that began in 2024, the Bank of Canada indicated that it wants to keep rates unchanged for as long as possible, partly to assess the impact of US President Donald Trump's tariffs. TASR reports this based on a report by the AFP agency.
Trump's protectionism has triggered a "structural change" in Canada, as the interconnectedness of the two countries' economies makes the Canadian economy particularly sensitive to US tariffs, the bank said. "US trade restrictions and uncertainty continue to weigh on growth in Canada," it added.
The Bank of Canada also pointed to the risk of more serious economic problems in the future. Trump has so far generally adhered to the United States-Mexico-Canada Agreement (USMCA), which he signed during his first term. U.S. tariffs on autos, steel and aluminum have hit Canada hard, but more than 85% of all bilateral trade remains duty-free under the terms of the USMCA. However, the agreement will be subject to review negotiations in the coming months. “The upcoming review of the USMCA poses significant risks,” the Bank of Canada noted.odkaz na stránku |
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