Forex
Bank of Canada Keeps Interest Rate Unchanged Amid Economic Recovery
The Bank of Canada has maintained its policy rate at 2.25%, as it assesses the ongoing economic recovery in the country.
The bank's projection indicates that global GDP growth will slow to 2.75% in 2026, mainly due to the effects of the Middle East conflict, but is expected to recover to around 3.25% in 2027 and 2028.
In Canada, economic activity has shown signs of improvement, with growth estimated at 2.5% in the second quarter. Consumer spending remains strong, while housing activity appears to be stabilizing.