The Bank of Canada kept its key lending rate steady Wednesday at 2.25 per cent, highlighting the resilience of the economy despite tariffs imposed by US President Donald Trump.
Canadian economic activity rebounded in the third quarter, growing 2.6 per cent, while employment rose in November for the third consecutive month.
The central bank said it expects “weak” GDP growth in the fourth quarter, given the anticipated decline in net exports.
“Growth is forecast to pick up in 2026, although uncertainty remains high and large swings in trade may continue to cause quarterly volatility,” the bank said in a statement.
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