Bank of Canada maintained interest rates at 2.75% level, in line with expectations.
Bank of Canada Rate Decision - Key Points
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Rate held steady at 2.75% as BoC monitors US tariff impacts
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Trade uncertainty is the primary concern, creating unpredictable economic outlook
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BoC outlines two scenarios:
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Limited tariffs: temporary growth weakness, inflation near 2%
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Trade war: possible Canadian recession, inflation exceeding 3%
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Inflation currently at 2.3% (March), expected to decrease with carbon tax removal
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Economic slowdown evident with weakening consumption and business spending
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BoC will "proceed carefully" while supporting growth and controlling inflation
USDCAD dropped after BoC decision.
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