US EditionBank of Canada widely expected to hold key rate steady amid trade uncertainty
CANADA, JUL 28 – The Bank of Canada holds the key interest rate at 2.75% for the third time amid persistent inflation and strong labour market despite ongoing trade uncertainties.
- Most economists expect the Bank of Canada will keep its policy rate at 2.75 percent for the third consecutive time due to inflation concerns and a strong labor market.
- Statistics Canada reported that the Canadian economy added 83,000 jobs in June, reducing the unemployment rate for the first time since January.
- Avery Shenfeld, chief economist of CIBC, believes the Bank of Canada will not cut the benchmark interest rate on Wednesday, but a cut would be a 'pleasant surprise.'
- Shenfeld also noted that Canada's tariff dispute with the United States likely resulted in an economic contraction in the second quarter.
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‘Doesn’t give any ammunition for the Bank of Canada to cut rates’: fixed-income expert
As the Bank of Canada prepares to announce its key interest rate tomorrow, with unemployment down and inflation up, a fixed income expert thinks the central bank has no reason to cut or increase rates especially as Canada faces an unprecedented trade war.
·Canada
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All indications are that the policy rate will be maintained by the Bank of Canada on Wednesday in its fifth update of the year.
·Montreal, Canada
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Economists believe that it may well remain unchanged for the third time in a row.
·Montreal, Canada
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Coverage Details
Total News Sources30
Leaning Left14Leaning Right3Center3Last UpdatedBias Distribution70% Left
Bias Distribution
- 70% of the sources lean Left
70% Left
L 70%
15%
15%
Factuality
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