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Bank of Canada Freezes Rates as Trump’s Tariff Threat Looms Over Economy

Bank of Canada Holds Rates Steady Amid Tariff Turmoil In a widely anticipated move, the Bank of Canada has opted to maintain its benchmark interest rate at 2.75% for the third consecutive time, as trade tensions with the United States intensify ahead of an August 1 tariff deadline. Economists had unanimously predicted the hold, citing mixed economic signals: while employment remains strong, core inflation continues to hover above the Bank’s target. Governor Tiff Macklem emphasized that monetary policy cannot offset the impact of prolonged trade conflicts, reiterating the Bank’s commitment to price stability for Canadians. The decision comes as President Trump threatens sweeping tariffs on Canadian goods, including a potential 35% blanket rate and sector-specific levies on steel, aluminum, and autos. These measures have injected uncertainty into business planning and consumer confidence, with many firms scaling back hiring and investment. Despite the hold, analysts warn that further...
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Explore Canada for Free This Summer with the Canada Strong Pass

 

This summer, Canadians and visitors alike can enjoy the country's breathtaking landscapes and rich history at no cost, thanks to the Canada Strong Pass. Running from June 20 to September 2, 2025, the pass grants free admission to all national parks, historic sites, and marine conservation areas managed by Parks Canada.  

Beyond free entry, the pass also offers discounts on camping fees, making it easier for families and adventurers to immerse themselves in nature. Additionally, young travelers can benefit from discounted museum admissions and reduced fares on VIA Rail, encouraging exploration across the country.  

Culture Minister Steven Guilbeault emphasized that the initiative is designed to help Canadians reconnect with their heritage and natural wonders while fostering national unity. No registration or physical pass is required—just show up and enjoy the experience.  

With summer fast approaching, the Canada Strong Pass is set to make travel more accessible and enjoyable for all. Whether it's hiking in Banff National Park, exploring historic forts, or discovering Indigenous heritage sites, this initiative ensures that everyone can experience the best of Canada without financial barriers.  



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