The Globe and Mail reports in its Thursday, Dec. 11, edition that the Bank of Canada held its benchmark interest rate steady on Wednesday, moving back to the sidelines for what financial markets expect to be an extended pause. The Globe's Mark Rendell writes that the Canadian economy is "proving resilient overall" in the face of U.S. tariffs, said Governor Tiff Macklem. The BOC believes the benchmark rate is "about the right level" to maintain inflation near the 2-per-cent target while helping the Canadian economy adjust to trade disruptions from U.S. protectionism. The BOC has lowered interest rates four times this year and nine times since summer 2024. It is expected to remain steady through early next year, with a quarter-point hike anticipated in fall 2026, according to Bloomberg data. Monetary policy has stabilized after years of volatility, moving from near-zero rates at the pandemic's start to a rapid increase to 5 per cent to combat the highest inflation in 40 years. Mr. Macklem said he was still prepared to adjust interest rates in either direction if there is a material change in the bank's economic outlook. He said, "I'm not going to put our policy on a timeline."