The Bank of Canada held interest rates steady, saying the economy is growing again.
The Bank of Canada held interest rates steady on Wednesday, as expected. The central bank stated that the economy resumed growth in the second quarter, consumers showed resilience, and businesses are adapting. However, the 2026 economic growth forecast was lowered from 1.2% to 0.7%, and the inflation forecast was raised from 2.3% to 2.5%.