Birol says impact is already worse the two oil shocks of the 1970s combined
The S&P/TSX composite index tumbled more than 450 points on Thursday
The bank's benchmark deposit rate has remained at 2% since June 2025
Before the war, it was largely expected that the central bank would cut rates
The central bank held its policy interest rate at 2.25% on Wednesday
Fed officials expect the Iran war will worsen inflation this year, but have little impact on economic growth
It’s too soon to say what impact the Iran war will have on Canada’s economy: Macklem
With fuel prices likely to stoke inflation, projected rate cut less certain this year
Transport and fertilizer cost increases to hit prices for goods, food
Economists expect oil shock will fuel higher inflation in months ahead