Bank of Canada Governor Macram: So far, we have seen no evidence that higher oil prices are spreading to other goods and services. The recent price of natural gas is more consistent with the price of oil, which is almost $40 higher than before. If inflationary pressure is controlled, we don't want to raise interest rates to dampen growth. There is growing evidence that many Canadian businesses have begun to adapt to US tariff policies. Labor force growth is expected to be close to zero in the next few years.

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