From Global News.

Interest rates in Canada are holding steady for now with the Bank of Canada’s governor Tiff Macklem describing the “unpredictable” outlook for United States trade policy and suggesting it will be “hard to restore” trust in our neighbours to the south.

The central bank opted to keep its overnight benchmark at 2.75 per cent, as most economists expected.

“Let’s hope that there’s an agreement between Canada and the United States. Let’s hope it’s a good agreement,” Macklem said Wednesday.

“There is a sense that U.S. policy may well remain unpredictable. There is a sense it’s going to be hard to restore trust. So, yes, I think some level of uncertainty will continue.”

Macklem said the Canada-U.S. trade war would put the Canadian economy on a “permanently lower path” with lower consumption and income levels.

For more info, please go to https://globalnews.ca/news/11311045/bank-of-canada-july-rate-announcement/
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