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Canada's central bank cut rates amid trade fears and weak hiring, citing cautious data-driven outlook.
Bank of Canada Governor Tiff Macklem said the central bank will resume economic forecasting with caution, citing ongoing trade uncertainties, particularly U.S. tariffs and global tensions, despite reduced risks since spring.
He noted business investment and hiring remain hesitant, though artificial intelligence is boosting productivity and growth.
Despite a strong September jobs gain, recent job losses and labor market softening contributed to a recent quarter-point rate cut.
The Bank will assess incoming data on inflation, exports, investment, and consumer spending ahead of its Oct. 29 decision, emphasizing a data-driven, cautious approach.
El banco central de Canadá redujo las tasas de interés en medio de temores comerciales y de una escasa contratación, citando perspectivas cautelosas basadas en datos.