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Bank of Canada Maintains Interest Rate Amid Economic Uncertainty
The Bank of Canada has decided to hold its key interest rate at 2.75%, citing "unusual uncertainty" in the economic landscape. This marks the second consecutive rate pause, as policymakers assess the impact of ongoing trade tensions and inflationary pressures.
Governor Tiff Macklem emphasized that while the Canadian economy remains soft but not sharply weaker, recent inflation data has shown unexpected firmness. The central bank is particularly focused on the effects of U.S. tariffs, which continue to create volatility in trade and business investment.
Despite speculation about a potential rate cut, the Bank of Canada opted for stability, noting that further adjustments may be considered if economic conditions deteriorate. The decision reflects a cautious approach as officials navigate an unpredictable financial environment.
With inflation and trade uncertainties shaping the outlook, the Bank of Canada remains committed to monitoring economic trends before making any significant policy shifts. The next rate announcement is expected in July, offering further insights into the central bank’s strategy moving forward.
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