Bank of Canada Holds at 2.75%, Seeks More Clarity on Tariffs (3)

The Bank of Canada paused its interest rate cutting cycle and said policymakers “will proceed carefully” as they wait to see how US President Donald Trump’s trade policy takes shape.

Officials led by Governor Tiff Macklem kept the policy rate at 2.75% on Wednesday, the first pause in eight meetings, as expected by markets and a slim majority of economists in a Bloomberg survey.

“We decided to hold our policy rate unchanged as we gain more information about both the path forward for US tariffs and their impacts,” Macklem said in an opening statement.

“We still do not know ...