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The Bank of Canada is expected to hold its benchmark interest rate for a third consecutive announcement when it reveals its decision at 9:45 a.m. ET today. The announcement comes amid fraught trade negotiations with the United States ahead of an August 1 deadline and an economy showing some signs of strain from the unresolved conflict.
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Bank of Canada expected to hold interest rates for a third consecutive time today, as Trump's tariff deadline nears
"Hawks and doves can make very reasonable cases at this point," said one economist.
John MacFarlane, Jeff Lagerquist and Leah Golob
Updated Wed, July 30, 2025 at 7:30 p.m. BST 1 min read
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Bank of Canada Governor Tiff Macklem takes part in a press conference following the release of a Financial Stability Report in Ottawa, Ontario, Canada May 8, 2025. REUTERS/Blair Gable
Bank of Canada Governor Tiff Macklem takes part in a press conference following the release of a Financial Stability Report in Ottawa, Ontario, Canada May 8, 2025. Reuters/Blair Gable · Reuters / Reuters
The Bank of Canada is expected to hold its benchmark interest rate for a third consecutive announcement when it reveals its decision at 9:45 a.m. ET today. The announcement comes amid fraught trade negotiations with the United States ahead of an August 1 deadline and an economy showing some signs of strain from the unresolved conflict.
Ahead of the announcement, economists polled by Reuters were unanimous in their expectations for a hold. While recent economic growth has been below potential, there have been mixed signals from the job market and core inflation measures remain stubbornly above the Bank's target. In a note to clients on Monday, BMO economist Robert Kavcic pointed out that both "hawks and doves can make very reasonable cases at this point," suggesting the Bank will wait for more clarity.
In a speech last month, Governor Tiff Macklem stuck to his tariff-era mantra that monetary policy cannot offset the impact of a protracted trade conflict. “What we can do is make sure Canadians don’t have to worry about big changes in their cost of living,” he said.
In its June decision the Bank also held its policy rate stable.
Follow Yahoo Finance Canada’s live blog for news, updates and analysis of the Bank of Canada’s interest rate announcement below.
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