Sector Update: Financial Stocks Mixed Pre-Bell Friday
MT newswire2026/08/28 13:12Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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Bank of Canada Issues Strongest Stagflation Warning: Tariffs May Push Q4 Growth Below 1%, High Oil Prices Intensify Inflation
Bank of Canada Governor Macklem stated on Monday that a new round of U.S. tariffs could halve Canada’s fourth-quarter economic growth, dropping it below 1%, while annual inflation will remain at 3%, exceeding the 2% target. He added that if oil prices continue to hover around $100 per barrel, prices could be pushed even higher. Macklem said that if inflation is manageable, he does not want to raise interest rates; however, if inflation exceeds expectations, he also does not want to react too slowly.
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