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Trump Mistakes Bank of Canada for Retail Bank

Guavy AI Editorial Team
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CAD
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US President Donald Trump has made another mistake about Canadian banking. During an Oval Office event on Wednesday, he implied that the Bank of Canada is a commercial bank with locations in the US.

This is not true: the Bank of Canada is a Crown corporation that oversees banking services for the federal government and does not operate in the US.

Trump made this claim when asked about the decline in Canadian tourism, saying 'They basically don't allow banks of America to be in Canada. That's sort of emblematic of the way they treat us.'

The Bank of Canada sets interest rates, which it kept steady at 2.25% on Wednesday.

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