Canada’s central bank chief is blaming President Donald Trump’s chaotic tariff war for “violently” damaging the economy of America’s northern neighbor, Politico reported. “The Canadian economy ended 2024 in good shape,” Governor Tiff Macklem said Wednesday during an interest rate announcement that preserved the status quo. “Since January, we’ve had a seismic shift in U.S. trade policy and a sharp increase in uncertainty. New tariffs are now in place on key Canadian industries and on every other U.S. trade partner.

The Supreme Court of Canada says a person must wait seven years after completely finishing their post-secondary studies before they may be released from student loan debt under the federal bankruptcy law, The Canadian Press reported. The top court's decision comes today in the case of a woman who received government student loans in the course of three university programs from 1987 to 2003. She later returned to school and earned a master's degree in 2009 without the help of additional student loans.

The unexpected weakening of the U.S. dollar is suddenly becoming the rest of the world’s problem, The Wall Street Journal reported. For foreign sellers of all manner of goods, including cars, cognac and Scottish tweed, the dollar’s steep slide is a double whammy, compounding losses caused by President Trump’s import levies. For central banks around the world, the rapid strengthening of their own currencies heaps pressure to cut interest rates more aggressively. ​The U.S.

The Bank of Canada released the following statement on Wednesday: "The Bank of Canada today maintained its target for the overnight rate at 2.75%, with the Bank Rate at 3% and the deposit rate at 2.70%,” Reuters reported. “The major shift in direction of U.S. trade policy and the unpredictability of tariffs have increased uncertainty, diminished prospects for economic growth, and raised inflation expectations. Pervasive uncertainty makes it unusually challenging to project GDP growth and inflation in Canada and globally.