1. The Bank of Canada is holding the overnight rate steady at 2.75%.
Reaction:
- Canadian Chamber of Commerce: One more time: Bank of Canada hold rates as they assess trade war impact.
- Conference Board of Canada: Bank Stays the Course as Trade Policy Clouds the Road Ahead
Media:
- CBC: Bank of Canada holds interest rate at 2.75% as economy shows resilience in the face of tariffs
- Globe & Mail: Bank of Canada holds key interest rate steady at 2.75% for third consecutive time
- CTV: Bank of Canada holds key interest rate, citing ‘some’ domestic resilience to U.S. trade disruptions
2. Bank of Canada – Monetary Policy Report – July 2025
- Overview: US tariffs are significantly higher than they were at the start of 2025, and US trade policy remains unpredictable. Inflation is near 2%, although underlying price pressures have picked up. With uncertainty about US trade policy still high, the outlook for the Canadian economy remains clouded. Read More
3. National Retail Sales Normalize
Canadian Chamber of Commerce Report:
- After consumers pulled forward purchases ahead of looming U.S. tariffs, national retail sales normalize. Read More
