Bank of Canada Freezes Interest Rate Amid US Tariffs and Iran Tensions

The Bank of Canada has maintained its interest rate at 2.25% amid concerns over the ongoing US trade tariffs and escalating tensions in the Middle East. This marks the seventh consecutive time the central bank has held the rate steady.

In a statement, Governor Tiff Macklem highlighted the two key risks facing the Canadian economy: the trade dispute with the US and the conflict in the Middle East. Vancity's chief economist Judith Bosire discussed the implications of these developments on the CBC.