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The Bank of Canada maintained its policy interest rate at 2.75% for a second consecutive meeting
Tiff Macklem (Governor of the Bank of Canada) provided further insight on the June 4th decision during the press conference. “Uncertainty remains high. The Canadian economy is softer but not sharply weaker. And we’ve seen some firmness in recent inflation data. Against this backdrop, we decided to hold the policy rate unchanged as we continue to gain more information on US trade policy and its impact.”
While the Bank of Canada held steady this meeting, the general consensus among the big banks is that we could still see a further -0.25% to -0.75% of rate cuts before hitting a bottom by the end of 2025 or early 2026.
Looking for more information? We have prepared the attached info guide that covers the following topics:
- Why did the Bank of Canada hold their rate steady?
- What were major bank economists expecting, and what could be next?
- Potential mortgage market implications now and moving forward.
These questions and more are answered in our below info guide. Download the guide below.
