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Bank of Canada policy update: BoC hits pause despite escalating tariffs. https://thoughtleadership.rbc.com/bank-of-canada-policy-update/

Canada has been hit with its largest trade shock in nearly 100 years. RBC Economics now finds itself balancing the desire to produce a clear analysis with the recognition that the evolution of trade policies, and policymakers’ responses to them, still remains highly uncertain. Still, we now have a growing list of “knowns” compared to a week ago, allowing us to analyze this shock with greater confidence:

It is clear that as we move forward, RBC's priority remains supporting our clients and communities during challenging times. With our strong financial foundation and expertise, we're well prepared to guide clients through economic uncertainty.

As the threat of tariffs loom over Canada, and households, businesses and policymakers manage through this next chapter, they will need more than a simplified round number to understand how the economy will evolve. They will collectively need a playbook on how tariffs filter through the economy, over what timelines and through what channels. Here is a framework that will guide economists—and everyone else—through the complicated path ahead. https://thoughtleadership.rbc.com/a-playbook-for-how-to-measure-a-tariff-shock-in-canada/

Navigating 2025: Looking better and unsettling all at once: https://thoughtleadership.rbc.com/navigating-2025-looking-better-and-unsettling-all-at-once/