Bank of Canada Governor McClum: There is a risk of delaying interest rate hikes for too long. If new US tariffs continue to be implemented, fourth-quarter growth could be drastically cut in half to less than 1%. If oil prices stay close to $100 per barrel, we expect inflation to rise slightly in the next few months. The increase in fuel prices has exceeded our usual expectations, reflecting the damage to global refining capacity.

Bank of Canada Governor McClum: There is a risk of delaying interest rate hikes for too long. If new US tariffs continue to be implemented, fourth-quarter growth could be drastically cut in half to less than 1%. If oil prices stay close to $100 per barrel, we expect inflation to rise slightly in the next few months. The increase in fuel prices has exceeded our usual expectations, reflecting the damage to global refining capacity.