Canada's central bank lowered its interest rate by 25 basis points to three per cent on Wednesday, as the Bank of Canada governor warned there is little he can do to negate the economic impact of U.S.

Below are some key quotes from a news conference by Bank of Canada Governor Tiff Macklem and Senior Deputy Governor Carolyn Rogers on Wednesday after the central bank cut its key policy rate by 25 basis points to 3%.

The Bank of Canada is likely to cut interest rates by a quarter percentage point on Wednesday as officials lay out their analysis of how US tariffs might derail a soft landing for the Canadian economy.