US EditionBank of Canada to make interest rate announcement amid clouded outlook
The Bank of Canada paused at 2.25% amid a fragile economy and oil price spike from the U.S.-Iran conflict, with 84,000 jobs lost in February, officials said.
- The Bank of Canada is expected to hold interest rates steady this week after lowering rates nine times in 2024 and 2025.
- The oil price shock caused by the U.S.-Iran war and disruption of oil shipments through the Strait of Hormuz has complicated things for central banks.
- The economic backdrop in Canada remains weak with GDP contraction, job losses, widening trade deficit, and uncertainty about NAFTA.
47 Articles
47 Articles
Canada Freezes Base Rate at 2.25% Amid Worsening Economy and Inflation The Bank of Canada, Canada's central bank, announced on the 18th (local time) that it has kept the overnight rate, used as the benchmark, at 2.25% following a monetary policy meeting. In a statement following the rate decision, the Bank of Canada [addressed] the Middle East
Bank of Canada Holds Interest Rates Steady, Warns of Global Inflation From Iran War
OTTAWA—The Bank of Canada has left its key rate at 2.25 percent for a third consecutive meeting, while warning the ongoing conflict in the Middle East will raise global inflationary pressures and squeeze Canadians’ purchasing power. “The war in Iran is causing oil prices to move sharply higher, and this will push up inflation in the short term. Canada’s economy is dealing with a lot, and now we face more volatility,” Bank of Canada Governor Tiff…
Bank of Canada holds key interest rate at 2.25%
The Bank of Canada held its key interest rate at 2.25 per cent on Wednesday, saying that higher oil and gas prices from the war in the Middle East are likely to boost global inflation but that it's too soon to assess the conflict's impact on the Canadian economy.
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