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OTTAWA, Nov 26 - The Bank of Canada said on Tuesday that if U.S. President-elect Donald Trump follows through on his threat of tariffs on Canada, it would have an impact on both economies and the central bank would incorporate those into its economic forecasts.
"What happens in the U.S. has a big impact on us, and something like this would clearly have an impact on both economies," deputy governor Rhys Mendes said during a audience question and answer session in Charlottetown, Prince Edward Island. The bank will update its economic forecasts on Jan. 29 when it announces its first monetary policy decision of the year.
The BoC has reduced its key rate four times in a row since June and inflation - which spiked at 8.1% in June 2022 - has consistently stayed within the 1% to 3% target range this year.
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