Bank of Canada Maintains Interest Rate Amid Global Uncertainties

The Bank of Canada maintained its policy interest rate at 2.25 per cent on Wednesday.

This decision was made in response to ongoing global uncertainties, including the conflict in the Middle East and new US tariffs that pose risks to the sustainability of Canada's economic recovery.

CPI inflation has been hovering around three per cent in recent months, mainly due to persistently higher gasoline prices. The Bank warns that upside risks to its inflation forecast have increased, with high oil prices and elevated refinery margins potentially leading to spillover into other goods and services.