🚦Breaking: Bank of Canada leaves its policy rate unchanged at 2.75%
In line with market analysts’ expectations, the Bank of Canada held its policy rate steady at 2.75% on Wednesday.
This section below was published as a preview of the Bank of Canada's (BoC) monetary policy announcements at 09:00 GMT.
Source: FXStreet expects
• The Canadian Dollar maintains a positive tone vs. the US Dollar.
• The July meeting could be the fourth consecutive decision with rates at 2.75%.
• US tariffs would remain in the spotlight at Governor Macklem’s press conference.
As the Bank of Canada (BoC) gets set to issue a new interest rate decision on Wednesday, July 30, there is a growing sense that the cutting cycle might have already ended.
The BoC decided to keep rates steady in June, citing a Canadian economy that is "softer but not sharply weaker" and noting "firmness in recent inflation data." Indeed, the policy rate stands at 2.75%, which remains within the bank’s estimated neutral range for interest rates, set between 2.25% and 3.25%.
President Donald Trump's tariff agenda continues to be a significant global influence. Since his January return to the White House, he has dangled a slew of new levies that could ripple through global supply chains, and those threats will likely dominate Governor Tiff Macklem’s post‑meeting press conference.
When will the BoC release its monetary policy decision, and how could it affect USD/CAD?
The Bank of Canada will publish its policy decision on Wednesday at 13:45 GMT alongside its Monetary Policy Report (MPR). After that, Governor Tiff Macklem will attend a press conference at 14:30 GMT.
Most economists expect the Bank of Canada (BoC) to keep its policy rate anchored at 2.75% on July 30, extending the pause begun in May and June. The decision arrives as the Canadian Dollar quietly grinds higher, rebounding from winter lows near 1.4800 vs. its American counterpart to the current vicinity of 1.3700.
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