BoC Holds Rates Steady Amid Trade War Uncertainty

The Bank of Canada held interest rates steady at 2.25% in its latest decision, leaving its benchmark rate unchanged for the seventh time in a row.

This move was widely expected by financial markets and mortgage watchers, who are still waiting to see how rising oil prices will impact inflation.

Economists believe that the recent trade war between the US and Canada could push possible rate hikes further down the line, and some say it's likely for the Bank of Canada to take a dovish approach to rates due to the economic threat posed by US tariffs.

Joel Fox, chief operating officer at Ownright, said that there's still uncertainty around the economy, particularly with tariffs and inflation, so he doesn't think they're in a rush to make another big move right now.