Economists predict Bank of Canada to stand pat in Wednesday's interest rate announcement

Hamilton Spectator

3 days ago

Bank of Canada governor Tiff Macklem will announce Wednesday morning whether the bank is cutting its key overnight lending rate, but most economists expect it will stand pat.
A consensus of economists surveyed by Bloomberg say the bank will keep its key rate at 2.75 per cent, where it's been since March 12.
The bank will also release its monetary policy report, a quarterly look at the Canadian and global economy.
Economists are widely expecting the Bank of Canada to keep its benchmark interest rate on hold this week — though not all agree with that call. (July 28, 2025)
The bank has left its key rate alone for three straight meetings, after cutting it seven times in a row from its five per cent peak.
The bank began cutting last June amid concern over a sputtering Canadian economy.
That concern grew amidst a trade war sparked by tariffs levied by U.S. President Donald Trump.
More to come ...