Bank Of Canada Leaves Rates Unchanged, Highlights Upside Risks To Inflation
(RTTNews) - With the economy and inflation evolving broadly as forecast, the Bank of Canada on Wednesday announced its widely expected decision to once again leave interest rates unchanged.
The Bank of Canada said it decided to maintain its target for the overnight rate at 2.25 percent, with the Bank Rate at 2.5 percent and the deposit rate at 2.20 percent.
The Canadian central bank said recent data has reaffirmed the Governing Council's view of a broadening recovery in Canada's economy.
However, the BoC noted uncertainty is high and new U.S. tariffs and threats of further action pose risks to the sustainability of the recovery.
The BoC said the upside risks to inflation have increased, while new tariffs make growth prospects more uncertain.
The Canadian central bank said its Governing Council will assess the sustainability of the economic rebound and the outlook for inflation and is prepared to adjust monetary policy as needed.
"The Bank remains committed to maintaining Canadians' confidence in price stability through this period of global upheaval," the BoC said.
The Bank of Canada's next scheduled date for announcing the overnight rate target is October 28, 2026.
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