Canada's central bank lowered its interest rate by 25 basis points to three per cent on Wednesday, as the Bank of Canada governor warned there is little he can do to negate the economic impact of U.S.

Below are some key quotes from a news conference by Bank of Canada Governor Tiff Macklem and Senior Deputy Governor Carolyn Rogers on Wednesday after the central bank cut its key policy rate by 25 basis points to 3%.

In its first cut of 2025, the Bank of Canada (BoC) lowered its key interest rate by 25 basis points. On Wednesday, the country’s central bank announced it had reduced the policy rate from 3.25% to 3%.