Bank of Canada Interest Rate Decision

The Bank of Canada just kept interest rates at 2.75%… again.

Here’s what you need to know about Canada’s economy, from today’s update:

- They’re playing it safe. There’s a lot of uncertainty around U.S. tariffs, especially after the U.S. just doubled its steel & aluminum tariffs on Canada.

- Core inflation is still rising, and that’s keeping the Bank cautious.

- Q1 growth was stronger than expected… but mostly because businesses rushed to beat tariffs. The BoC expects Q2 to slow down hard.

What this means for the rest of the year:

- They’re not rushing into more rate cuts. But if the economy weakens, a cut could still happen later this year.

- The next big update is July 30. Until then, all eyes are on trade talks, inflation data, and how much Canadians keep spending.