Bank of Canada to Hold Interest Rates Steady for Sixth Time This Year

The Bank of Canada is set to make its sixth interest rate decision of the year today. Most economists and financial markets favor another rate hold from the central bank, keeping the policy rate steady at 2.25 per cent since late last year.

This decision comes as the economy copes with U.S. tariff uncertainty and higher global energy prices due to the war in Iran. The annual inflation rose to three per cent in July, but the consumer price index has been volatile since the Middle East conflict sent gas prices soaring over the spring.