The Bank of Canada has recently held its overnight interest rate at 2.75%. Globally, trade tensions – particularly between the U.S. and China – remain uncertain, with ongoing tariff changes and negotiations. While the world economy has stayed relatively resilient, some of that strength is due to temporary factors like businesses trying to beat new tariffs. Inflation in the U.S. remains above 2%, and China’s growth has slowed. Financial markets have calmed since April’s volatility, but they continue to react strongly to U.S. policy moves. A link to the full article is included for those wanting more details HERE
The next scheduled date for announcing the overnight rate target is July 30, 2025.