Bank of Canada set to make 6th interest rate decision of the year
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.
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