BOC Governor Macklem said new US tariffs could push Canada's Q4 economic growth below 1%. He warned slower growth would weigh on inflation while Middle East conflict-driven oil gains could lift it; annual inflation is about 3% versus the BOC's 2% target. Macklem said if oil stays near $100/bbl, inflation could rise modestly. Canada rebounded in Q2 with 3.3% annualized growth; after roughly 18 months of US tariffs firms and households had begun adjusting plans and resuming investment and consumpt

BOC Governor Macklem expects inflation to rise slightly over the next few months.

ECB chief economist LANE said a renewed energy-price shock, now affecting both oil and gas, will keep euro-area inflation higher and more persistent than the ECB initially expected. He said the second wave of price rises should push inflation up and extend its duration, with inflation only expected to fall back toward the ECB’s target from mid-2027, assuming the shock does not worsen. LANE warned a stronger, more persistent autumn shock would put pressure on the economy; if the shock is milder, large public spending in parts of Europe and some corporate AI activity should help sustain growth. His baseline: if the energy shock does not intensify, the euro-area economy should continue to grow at a steady but moderate pace.