BoC keeps rates on hold as expected at 2.25%; Governing Council is continuing to look through the war’s near-term impact on headline inflation, but will not let higher energy prices become persistent inflation.

Newsquawk Staff · 10 Jun 2026, 14:05 UTC

Recent data suggests that growth will resume in the second quarter but, even with some rebound, the economy is expected to remain in excess supply.
So far, there has been limited evidence of broad-based pass-through of higher energy prices to other consumer prices.
Total inflation is expected to hover around 3% in the near term before easing gradually towards 2%.
Economic activity in Canada has been weak and uncertainty about US trade policy persists.
The conflict in the Middle East is ongoing and oil prices remain elevated.
As the outlook evolves, we stand ready to respond as needed.

Sources

bankofcanada.ca

What our latest note said

US Market Open, 21 Oct, 10:29 UTC · what it led with

Pakistan Army Chief Munir brought the "final warning" from the United States to Iranian officials, which called on Iran to submit to the US demands for concessions on the nuclear issue before taking any other steps.
The UK government has approved the Jackdaw North Sea gas field.

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Fed Governor Waller (Voter) Q&A: With CPI and PPI in hand, have a pretty accurate view of PCE inflation; there is little cost to waiting one meeting.
10yr UST futures+0.1%
A ceasefire between the US and Iran has been agreed upon, it includes free navigation in the Strait of Hormuz and will be announced in the coming days, reports Ria citing Pakistani and Iranian sources
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Iran and US talks continue, and reports that the deal is close are wrong.
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