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Bank of Canada Warns US Tariffs Could Push Fourth-Quarter Growth Below 1%

Ottawa, September 28, 2026: Bank of Canada Governor Tiff Macklem has warned that new US tariffs could push Canada’s fourth-quarter economic growth below 1%.

Growth concerns

Macklem said tariff uncertainty could discourage business investment and hiring. Canada’s economy grew at an annualised 3.3% rate in the second quarter.

Inflation

Canada’s inflation rate was reported at 3%, above the central bank’s 2% target.

Source: Reuters

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Imran Siddiqui

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