Good morning. I’m pleased to be here with Senior Deputy Governor Carolyn Rogers to discuss today’s monetary policy decision. Today, we lowered the policy interest rate by 25 basis points, bringing it to 2.5%. Through the recent period of trade upheaval, Governing Council has been proceeding carefully, paying particular attention to the risks and uncertainties facing the Canadian economy. Three developments have shifted the balance of risks since our July decision. First, Canada’s labour market has softened further. Second, although there are still some mixed signals, on balance, recent data suggest the upward ... (full story)