Bank of Canada Relying on ‘Judgment’ to Steer Policy Rate Through Iran War Shock

Bank of Canada Relying on ‘Judgment’ to Steer Policy Rate Through Iran War Shock
Deputy Governor Carolyn Rogers looks on as Bank of Canada Governor Tiff Macklem is seen during a news conference in Ottawa, on March 18, 2026. The Canadian Press/Adrian Wyld
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Monetary policy-makers at the Bank of Canada are relying more heavily on their own reasoning to chart a course for the policy interest rate through conflicting economic signals tied to the war in the Middle East.

A summary of deliberations from the Bank of Canada governing council’s decision to hold the policy rate steady at 2.25 percent on March 18 was released Wednesday.