In a widely expected move, the Bank of Canada on Wednesday announced that it has once again decided to leave interest rates unchanged.
The Bank of Canada 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.
The Canadian central bank attributed the decision to leave rates unchanged for the third straight meeting to still high uncertainty, the Canadian economy showing some resilience, and ongoing pressures on underlying inflation.
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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.