Another Bank of Canada (BoC) interest rate update is scheduled this month, and you may be bracing yourself for the Crown corporation’s latest decision.

In June, Canada’s central bank held its key interest rate at 2.25 per cent for the fifth time since October 2025. The governing council cited that the “conflict in the Middle East” continues into its fourth month.

“The resulting increases in energy prices and disruptions in global supply chains are weighing on global economic growth and pushing up inflation,” reads the June announcement. “At the same time, the US administration continues to propose new tariffs and trade policy uncertainty remains elevated.”

The Bank of Canada noted that the inflation rate reached 2.8 per cent in April, reflecting higher oil prices and the impact of the government axing the consumer carbon tax.

“Economic activity in Canada has been weak, and uncertainty about U.S. trade policy persists. The conflict in the Middle East is ongoing, and oil prices remain elevated,” reads the announcement. “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.”

As the same global issues persist, here’s what experts predict from the next BoC rate announcement on Wednesday, July 15.

Source: Daily Hive