In a widely expected move, the Bank of Canada announced on Wednesday that it has once again decided to leave interest rates unchanged.
The Canadian central bank said it decided to hold its target for the overnight rate at 2.25 percent, with the Bank Rate at 2.5 percent and the deposit rate at 2.20 percent.
In its accompanying statement, the BoC said the ongoing Middle East conflict and the resulting increases in energy prices and disruptions in global supply chains are weighing on global economic growth and pushing up 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.