Business
Bank of Canada Gov. Macklem Warns of Misdiagnosing Economic Weakness
OTTAWA—Further interest-rate cuts won’t necessarily help an economy that’s being pulled down by U.S. trade friction, advances in artificial intelligence and lower population growth, Bank of Canada Gov. Tiff Macklem said Thursday.
The Canadian economy is undergoing a profound structural shift, Macklem said. The central bank can help support the transition, but it’s ultimately the response from policymakers, business executives and households that will determine Canada’s future prosperity, Macklem said in a speech delivered in Toronto, the country’s financial-nerve center.
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