Bank of Canada Governor Tiff Macklem said late Thursday that a policy shift in the US was causing uncertainty and President Donald Trump’s tariff threats were already impacting businesses and households, per Reuters.
Key quotes
Trump’s threats of new tariffs are already affecting business and household confidence, particularly in Canada and Mexico.
The longer this uncertainty persists, the more it will weigh on economic activity in our countries.
In a world with more structural change and more negative supply shocks, central banks will be faced with harder choices.
We will be called ineffective or criticized for not doing enough. And some will challenge our independence.
Market reaction
At the time of writing, USD/CAD was unchanged on the day at 1.4305.
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