Monetary Policy Decision
Opening statement by Mr Tiff Macklem, Governor of the Bank of Canada and Ms Carolyn Rogers, Senior Deputy Governor of the Bank of Canada, at the press conference following the monetary policy decision, Ottawa, Ontario, 2 September 2026.
Source: BIS Central Bank Speeches
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DW NOTE
Canada holds at 2.25% while oil climbs 26% in a month and the Fed prepares to hike into supply shock. Macklem calls Middle East conflict an "upside risk to inflation" — it's a 6% cut to global oil supply with the Strait closed since July. The Bank says it will be "a source of stability." Stability is not holding rates steady while energy costs compound and your largest trading partner tightens into a tariff war you're already losing.