Bank of Canada keeps interest rates the same

Note: This section contains information in English only.
Source: Dukascopy Bank SA
The Bank of Canada kept its interest rates steady at 2.75% due to increasing uncertainty from U.S. trade policies and tariffs, which are affecting global growth and raising inflation concerns. Global growth was strong in late 2024 but is slowing. The U.S. economy is weakening due to rising uncertainty, and inflation expectations are rising. Europe is struggling, especially in manufacturing, and China's economy is slowing after a strong 2024.



Tariff uncertainty has caused market volatility. Oil prices have fallen, and the Canadian dollar has strengthened. In Canada, the economy is slowing. Consumer spending, housing, and business activity are weaker. Employment dropped in March, and businesses are hiring less. Wage growth is slowing. Inflation was 2.3% in March, up from January but expected to fall due to lower oil prices and the removal of a carbon tax. However, tariffs may push some prices up. The Bank of Canada's focus is to control inflation and maintain price stability, while navigating the uncertain global situation. Monetary policy can't fix trade issues, but it will help keep inflation in check.
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