Bank of Canada mulls Trump tariff shock as it readies interest rates decision
The U.S.-Canada trade dispute and the descent into a retaliatory tariff blitz have complicated the job for the Bank of Canada ahead of its Wednesday decision.
OTTAWA - The Bank of Canada is scheduled to announce its sixth interest rate decision of the year this morning. The bank has maintained its policy rate at 2.25 per cent since late last year, amidst challenges such as U.S. tariff uncertainty and rising global energy costs due to the Iran conflict. Inflation reached three per cent in July, with the consumer price index experiencing fluctuations since the escalation in the Middle East.
Despite the economy and labour market showing signs of recovery as Canada prepares for potential trade tensions with the United States, the Bank of Canada's security officers are currently on strike, preventing them from conducting their usual briefing with journalists before the rate decision is released.
Written by urgent.news from Winnipeg Free Press's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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