Скачать или смотреть Bank of Canada holds key interest rate, citing U.S. trade unpredictability

Today, the Bank of Canada maintained its key interest rate at 2.75 per cent — the same level it’s been since March — citing the continued lack of clarity around tariffs and the outcome of Canada-U.S. trade talks.

On Wednesday, the central bank released its decision on the target for the overnight rate as well as its latest monetary policy report, noting that “with uncertainty about U.S. trade policy still high, the outlook for the Canadian economy remains clouded.”

Holding the rate again this month, for the third straight time, was widely forecasted by the big Canadian banks, with inflation remaining close to the Bank of Canada’s 2 per cent target.


Canada is currently staring down a Friday deadline imposed by U.S. President Donald Trump to reach a new trade deal or face potential 35 per cent tariffs on non-Canada United States Mexico Agreement (CUSMA)-compliant goods, as well as threats of new sectoral tariffs.

The central bank, without naming Trump, said there has been some clarity offered on the state of “global trade conflict,” with the U.S. recently inking new trade pacts with some other countries. However, in Canada, the persisting trade unpredictability is layered, and compounded now by the strong likelihood of some level of tariffs lingering post-August 1.

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