>The Bank of Canada on Wednesday cut its key interest rate, a move that comes just hours after U.S. President Donald Trump issued new steel and aluminum tariffs against Canada.
>The central bank cut its benchmark rate by 25 basis points, bringing it down to 2.75 per cent. This was the bank’s seventh consecutive interest rate cut.
>Bank of Canada governor Tiff Macklem said in a statement Wednesday that while Canada’s economy had entered 2025 on “solid footing,” with inflation remaining close to the bank’s two per cent target rate since last summer, Trump’s tariffs pose a new challenge.
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Summary:
>The Bank of Canada on Wednesday cut its key interest rate, a move that comes just hours after U.S. President Donald Trump issued new steel and aluminum tariffs against Canada.
>The central bank cut its benchmark rate by 25 basis points, bringing it down to 2.75 per cent. This was the bank’s seventh consecutive interest rate cut.
>Bank of Canada governor Tiff Macklem said in a statement Wednesday that while Canada’s economy had entered 2025 on “solid footing,” with inflation remaining close to the bank’s two per cent target rate since last summer, Trump’s tariffs pose a new challenge.
Further readings:
[National Newswatch | Canada calls for unity, pushes back on U.S. tariffs as G7 ministers gather in Quebec](https://nationalnewswatch.com/2025/03/12/canada-calls-for-unity-pushes-back-on-u-s-tariffs-as-g7-ministers-gather-in-quebec)
[Bell: Danielle Smith furious with Doug Ford, Team Canada set to meet | Calgary Herald](https://calgaryherald.com/opinion/columnists/bell-danielle-smith-furious-doug-ford-team-canada-meet)
[National Newswatch | Canada to impose 25% tariffs on $29.8B in U.S. goods Thursday](https://nationalnewswatch.com/2025/03/12/trumps-tariffs-on-canadian-steel-aluminum-now-in-place)
[National Newswatch | Trump’s Trade War is Just Round 1: The Battle Ahead is about AI and Democracy](https://nationalnewswatch.com/2025/03/12/trumps-trade-war-is-just-round-1-the-battle-ahead-is-about-ai-and-democracy)
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[U.S. pressure ‘lighting a fire’ under Ottawa to get major defence procurement projects moving, says expert, as trade war escalates – The Hill Times](https://www.hilltimes.com/story/2025/03/12/u-s-pressure-lighting-a-fire-under-ottawa-to-get-major-defence-procurement-projects-moving-says-expert-as-trade-war-escalates/453663/)
[The U.S. has covertly destabilized nations. With Canada, it’s being done in public](https://www.cbc.ca/news/politics/trump-annexation-destabilizing-canada-1.7479890)
[Grits’ grassroots hope Carney keeps ‘eyes and ears open’ for party renewal – The Hill Times](https://www.hilltimes.com/story/2025/03/12/party-renewal-requires-carneys-open-eyes-and-ears-to-grassroots-grits/453541/)
[Léger (Federal): CPC 37, LPC 37, NPD 11, BQ 6, GPC 5](https://leger360.com/fed-pol-mar-10/)
!ping Can
Fuck Danielle smith