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​Canada's Prime Minister Mark Carney at the 47th ASEAN Summit in Kuala Lumpur, Malaysia, on October 27, 2025.
Hard Numbers

Hard Numbers: Bank of Canada slashes staff, US flights grounded by shutdown, Mexico’s president groped in viral incident, Japan targets ursine enemies

US Federal Reserve Chair Jerome Powell speaks to the media during a press conference at the Federal Reserve, in Washington, DC, on Wednesday, Jan. 29, 2025.
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A tale of two central banks

On Wednesday, the Bank of Canada cut interest rates, but the US Federal Reserve did not. After three cuts in a row, the Fed’s decision to hold rates steady between 4.2% and 4.5% was expected as unemployment has dropped and stabilized. Still, it will irritate Donald Trump, who’s been clamoring for another cut.

​Buildings seen from Lake Ontario along the skyline of the city of Toronto, Ontario, Canada, on July 01, 2023.
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Bank of Canada slashes interest rate, warns of tariffs

The Bank of Canada cut interest rates by half a point to 3.25% on Wednesday to kickstart some growth in the Canadian economy.

Bank of Canada Governor Tiff Macklem takes part in a news conference, after cutting key interest rate, in Ottawa, Ontario, Canada October 23, 2024.
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Bank of Canada makes jumbo interest rate cut

The bank also signaled there may be more cuts to come.

Bank of Canada Governor Tiff Macklem takes part in a news conference, after cutting key interest rate, in Ottawa, Ontario, Canada July 24, 2024.
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The Bank of Canada cuts interest rates again. Will the Fed follow?

After becoming the first central bank in the G7 to cut interest rates back in June, the Bank of Canada lowered rates again on Wednesday by 25 basis points to 4.5% – and suggested there may be more cuts to come.

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The Bland Bombshell and the Big Banks

Is there anyone more bland, more powerful, and less recognizable than Federal Reserve Chair Jerome Powell? He makes money moves more than Cardi B, and yet most people wouldn’t recognize him if he were sitting on their lap in the subway. Why do relatively obscure banker meetings matter? Fair question. It's precisely why our GZERO team in Washington is covering the IMF-World Bank spring meetings this week.

FILE PHOTO: Bank of Canada Governor Tiff Macklem takes part in a news conference after announcing an interest rate decision in Ottawa, Ontario, Canada April 12, 2023.
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No rate cut just yet

The Bank of Canada held interest rates steady at 5% for the fourth time in a row on Wednesday, signaling that cuts may be coming, as analysts expect, in the spring.

Governor of the Bank of Canada Tiff Macklem walks outside the Bank of Canada building in Ottawa, Ontario.
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Know when to hold ‘em

On Wednesday, the Bank of Canada held its key rate unchanged at 5%, noting that the global economy is slowing along with inflation -- just not enough to lower rates. Meanwhile, economists in the United States expect the Fed to hold rates at a two-decade high until summer, if not longer.

Chair of the Federal Reserve Jerome Powell testifies during a House Financial Services Committee hearing.
News

There’s no party like a rate hike party

Rate hikes will continue … until morale declines or a recession hits. That’s the message market watchers expect, despite slowing inflation, from the Bank of Canada’s next meeting on July 12. The Canadian economy has stayed hot despite the Bank’s effort to cool it with increased interest rates, including a 25-point increase in June.

A Canadian soldier holds a flag as they wait for the arrival of PM Justin Trudeau along with NATO Secretary-General Jens Stoltenberg in Adazi, Latvia.
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What We’re Watching: NATO (still) wants Canada to pay up, critical mineral gold rush, a tale of two banks

Canada's NATO budget woes, US-Canada betting on critical minerals, recession jitters