1136 ET - Bank of Canada Gov. Tiff Macklem delivers a clear verdict on the country's recession debate. The economy is indeed weak, Macklem says at a press conference after BOC decision to leave its policy rate unchanged at 2.25%. But the economy "is clearly not in a recession," he says, adding there has yet to be a broad-based decline in economic activity. GDP declined in 1Q by 0.1% annualized, marking a second consecutive quarterly drop. 1Q GDP "was just barely negative," Macklem says. He adds household consumption was fairly healthy in 1Q, and the surprise drop could be explained by an unexpected pullback in government spending. (paul.vieira@wsj.com; @paulvieira)

(END) Dow Jones Newswires

June 10, 2026 11:36 ET (15:36 GMT)

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