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Bank of Canada Governor Says AI Could Be Both Good and Bad for Canada's Economy

On Oct. 29, 2025, the Bank of Canada released a monetary policy report alongside a rate cut announcement and held a press conference in Ottawa with Tiff Macklem and Carolyn Rogers.
Macklem said artificial intelligence offers both economic benefits and potential harms, comparing its impact to computers and the internet on global commerce and living standards.
Macklem added AI could eliminate many existing jobs and is being adopted faster than past technologies, while creating new industries and products, risking worker displacement.
Officials warned a significant reassessment of AI could trigger a sharp correction in stock market valuations and undermine consumer confidence, while the United States has benefited greatly this year from AI investment.
The bank admitted it does not know how new AI products will affect the Canadian economy, while media coverage including the Winnipeg Free Press highlighted the issue.

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Bank of Canada governor says AI could be both good and bad for Canada’s economy

The Bank of Canada says it doesn’t know how new artificial intelligence products will affect the Canadian economy

20 hours ago·Toronto, Canada

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The Epoch Times

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Bank of Canada Eyeing Effects of AI Disruption on Economy, Financial Stability

Bank of Canada officials say they’re keeping a close eye on how artificial intelligence will affect the Canadian economy—for better or worse. The central bank touched on artificial intelligence in its monetary policy report released alongside today’s rate cut announcement. Bank of Canada governor Tiff Macklem says AI could have the kind of impact computers or the internet had on global commerce and living standards. Macklem says the process of A…

21 hours ago·New York, United States

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