Welcome to the Bank of Canada Press Conference!

Live Coverage of the Press Conference

The Bank of Canada press conference with Tiff Macklem and Carolyn Rogers is set to begin at the bottom of the hour. You can watch it live here.

Opening Remarks by Tiff Macklem

Good morning. I’m pleased to be here with Senior Deputy Governor Carolyn Rogers to discuss today’s policy announcement.

Governing Council decided monetary policy no longer needs to be as restrictive and lowered the policy interest rate by 25 basis points…

As the press conference continues, Macklem and Rogers will address questions from reporters and provide insights into the Bank of Canada’s decision-making process.

How will this announcement affect me?

While the interest rate cut may lead to lower borrowing costs for consumers, it could also signal concerns about the state of the economy. Depending on individual financial situations, this could impact savings rates, mortgage rates, and other forms of credit.

How will this announcement affect the world?

The Bank of Canada’s decision to lower interest rates could have broader implications for global markets. Changes in monetary policy in one country often lead to ripple effects in international trade and investment. Other central banks may also adjust their policies in response, shaping the overall economic landscape.

Conclusion

As we await further details from the press conference, it’s important to stay informed about the implications of today’s policy announcement. The decisions made by the Bank of Canada have the potential to impact individuals, businesses, and markets both at home and around the world.