BOC Governor Tiff Macklem
- Even if no tariffs imposed, a long period of uncertainty would almost certainly damage business investment
- 25 bps cut would help support growth and better balance inflation risks
- Uncertainty due to US tariffs also supported case for a cut
- Tariffs would likely represent a one-time increase int he level of prices, saw risk of higher import prices feeding into other prices
- In setting mon pol, they plan to continually assess trade conflict
No surprises here but there is more of an emphasis on trade than I would have expected.
