Bank Of Canada Urges Businesses To Adapt

Bank of Canada Governor Tiff Macklem told an Empire Club speech in Toronto on Feb. 5, 2026, that businesses must 'lean into' structural changes including U.S. tariffs, artificial intelligence and slower population growth or risk failing to adapt. The central bank forecasts weak economic growth over the next two years and says limited labour-force expansion this year will produce uneven job-market recovery. The Bank held its policy rate at 2.25%.