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2:46 PM · 16 April 2025

BREAKING: Bank of Canada holds rates unchanged. USDCAD drops after the decision

Bank of Canada maintained interest rates at 2.75% level, in line with expectations.

Bank of Canada Rate Decision - Key Points

Rate held steady at 2.75% as BoC monitors US tariff impacts
Trade uncertainty is the primary concern, creating unpredictable economic outlook
BoC outlines two scenarios:
1. Limited tariffs: temporary growth weakness, inflation near 2%
2. Trade war: possible Canadian recession, inflation exceeding 3%
Inflation currently at 2.3% (March), expected to decrease with carbon tax removal
Economic slowdown evident with weakening consumption and business spending
BoC will "proceed carefully" while supporting growth and controlling inflation

USDCAD dropped after BoC decision.

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