BoC Governor Macklem Joins IMF Panel Amid Shifting Rate Hike Odds

Key Facts

1Bank of Canada Governor Tiff Macklem is participating in an IMF panel in Bangkok amid scrutiny of the bank's monetary policy path.

2The Canadian policy rate has remained at 2.25% since October 2025, with market odds for an October hike recently slashed.

3New US tariffs and two consecutive months of job losses have weakened Canada's economic growth outlook.

Bank of Canada Governor Tiff Macklem is participating in an IMF panel in Bangkok amid scrutiny of the bank's monetary policy path ahead of the October 28 meeting. According to investinglive.com, the Canadian policy rate has remained at 2.25% since October 2025, with market odds for a hike this month recently slashed.

The economic outlook has been weakened by new US tariffs and two consecutive months of job losses. Data from October 9, 2026, showed an employment change of -68.3k and an unemployment rate of 6.5%, leading markets to doubt the necessity of immediate tightening despite headline inflation remaining above target due to energy costs.