📉 Bank of Canada Maintains Interest Rates at 2.75% 📉
The Bank of Canada has announced it will keep the overnight rate at 2.75%, with the Bank Rate at 3% and the deposit rate at 2.70%. This decision comes in response to ongoing global trade uncertainties, including tariffs from the US, while still focusing on supporting Canada’s economy and keeping inflation in check.
🌍 Global Economy Update
Despite challenges from tariffs, the global economy is showing resilience. While growth is expected to slow slightly, it remains stable for the foreseeable future.
🇨🇦 Canada’s Economic Outlook
Although trade disruptions from US tariffs have caused some setbacks, Canada’s economy is proving resilient. After a dip in Q2, GDP growth is projected to rise to 1% in the latter half of 2025.
đź“Š Inflation Overview
CPI inflation increased to 1.9% in June, mainly driven by shelter prices. Underlying inflation remains steady at 2.5%.
đź”® Looking Ahead
With ongoing global uncertainties, the Bank of Canada will continue monitoring the situation. If economic conditions worsen, there may be room for interest rate cuts down the road.
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https://www.dianebuchanan.ca/bank-of-canada-rate-announcement-jul-30th-2025
