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Bank of Canada Mulled Later Timing for October Rate Cut, Deliberations Show
The Bank of Canada lowered rates to 2.25% amid economic weakness and debated timing due to U.S. tariffs and inflation near its 2% target, the summary shows.
- On Wednesday, the Bank of Canada governing council released a summary showing its October decision cut the policy rate by a quarter point in the bank's second consecutive cut, with members agreeing on the cut but debating timing.
- Council members said a weak economy, driven by U.S. tariffs, meant inflation would stay near the Bank's two per cent inflation target, while the Bank had issued illustrative scenarios since January due to trade uncertainty.
- The Bank resumed formal forecasts in October and projected growth in consumption as the driver of a rebound in real gross domestic product projections this year.
- Governing council concluded that it had likely done all it could to smooth the tariff transition and the summary was published Nov. 12, 2025, ahead of Dec. 10.
- Governor Tiff Macklem told members of Parliament that interest-rate changes offer limited support through tariff disruption and targeted fiscal policy should carry the bulk of the response, noting big deficits raise inflation only when the economy overheats but Canada's economy is currently weak.
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Bank of Canada Mulled Later Timing for October Rate Cut, Deliberations Show
The Bank of Canada’s governing council was on the same page about the need to lower its benchmark interest rate last month—but the exact timing of the cut was up for debate. The central bank on Wednesday released the summary of deliberations from its decision two weeks ago to lower the policy rate by a quarter point to 2.25 percent in its second consecutive cut. Those documents show council members felt the cut was warranted as a weak economy ha…
·New York, United States
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Winnipeg Free Press+28 Reposted by 28 other sources
Bank of Canada mulled later timing for October rate cut, deliberations show
Breaking News, Sports, Manitoba, Canada
·Winnipeg, Canada
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The Board of Directors of the Bank of Canada agreed last month on the need to lower its policy rate, but the precise timing of the decline was a matter of debate.
·Saint-Georges, Canada
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Total News Sources31
Leaning Left18Leaning Right1Center3Last UpdatedBias Distribution82% Left
Bias Distribution
- 82% of the sources lean Left
82% Left
L 82%
14%
Factuality
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