Forex
Bank of Canada Holds Rate Steady Amid Tariff and Iran War Concerns
The Bank of Canada has maintained its benchmark interest rate at 2.25% for the sixth time this year, amid concerns over new US tariffs and the ongoing war in Iran.
Bank of Canada governor Tiff Macklem stated that the persistence of the Middle East conflict has increased inflationary risks due to rising global energy prices.
The move was widely expected by economists and comes as a new tariff battle with the United States threatens Canada's economic rebound, according to Macklem.