Bank of Canada - Interest Rate Announcement

Bank of Canada again holds the key interest rate today at 2.75% due to uncertainty from the USA tariffs negotiations and uncertainty.

With the new Government in Canada, the economist predicts to have strong economy and GDP growth with Oil, Gas and Minerals new trading partners and less reliance on USA.The inflation in May was hovering at 3% which indicates that Canadian economy is softer but not weaker to the depths to reach the level of recession.

We are expecting BoC to continue reducing the interest rates during July and September announcement of 2025 to bring it down to 2.00%

We will be monitoring and keep updating.

Bank's prime rate remains at

4.95%