Where Every Big Bank Stands On Wednesday's Interest Rate Announcement

This week — Wednesday, July 30 — brings another Bank of Canada (BoC) interest rate decision and, as has been the case in months past, trade talk is fully interlaced into the overall rate discussion.

Canada is now looking at a 35% tariff on all Canadian imports into the US after August 1 — on non-CUSMA-compliant exports.

Meanwhile, leading up to this week’s decision, we have the new data releases to think about that will play into Governing Council’s announcement. That includes the latest labour market numbers — which showed employment declining by 83,000, the unemployment rate falling to 6.9% — and the Consumer Price Index print, which came in at 1.9% year over year, up from 1.7% in May.

Read More