The Bank of Canada on Wednesday announced its widely expected decision to leave interest rates unchanged for the second consecutive meeting.
The Canadian central bank said it decided to maintain its target for the overnight rate at 2.75 percent, with the Bank Rate at 3 percent and the deposit rate at 2.70 percent.
"With uncertainty about US tariffs still high, the Canadian economy softer but not sharply weaker, and some unexpected firmness in recent inflation data, Governing Council decided to hold the policy rate as we gain more information on US trade policy and its impacts," the Bank of Canada said.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.