The Bank of Canada announced on July 30, local time, that it will continue to keep the benchmark interest rate unchanged at the current level of 2.75%. The Bank of Canada said that Canada exported early in the first quarter to deal with tariff issues, and the economy achieved strong growth, but GDP may fall by about 1.5% in the second quarter. This contraction was mainly due to a sharp reversal in exports after early exports and a drop in US demand for Canadian goods due to tariff threats. A number of economic indicators show that since January, the oversupply situation in the Canadian economy has intensified. The Bank of Canada said that although US trade policy has been clear in recent weeks, US trade actions are difficult to predict, trade negotiations are still full of variables, and the threat of new industry tariffs persists. The Bank of Canada predicts that under current tariff conditions, as exports stabilize and household spending gradually increase, the growth rate of the Canadian economy will rise back to about 1% in the second half of this year, but economic weakness will continue until 2026. If the tariff problem is eased, Canada's economic growth will rebound faster; if the tariff issue escalates, the economy will continue to shrink within this year. In March of this year, the Bank of Canada announced that it would cut the benchmark interest rate by 25 basis points to 2.75%, leaving the benchmark interest rate unchanged in April and June.

The Bank of Canada announced on July 30, local time, that it will continue to keep the benchmark interest rate unchanged at the current level of 2.75%. The Bank of Canada said that Canada exported early in the first quarter to deal with tariff issues, and the economy achieved strong growth, but GDP may fall by about 1.5% in the second quarter. This contraction was mainly due to a sharp reversal in exports after early exports and a drop in US demand for Canadian goods due to tariff threats. A number of economic indicators show that since January, the oversupply situation in the Canadian economy has intensified. The Bank of Canada said that although US trade policy has been clear in recent weeks, US trade actions are difficult to predict, trade negotiations are still full of variables, and the threat of new industry tariffs persists. The Bank of Canada predicts that under current tariff conditions, as exports stabilize and household spending gradually increase, the growth rate of the Canadian economy will rise back to about 1% in the second half of this year, but economic weakness will continue until 2026. If the tariff problem is eased, Canada's economic growth will rebound faster; if the tariff issue escalates, the economy will continue to shrink within this year. In March of this year, the Bank of Canada announced that it would cut the benchmark interest rate by 25 basis points to 2.75%, leaving the benchmark interest rate unchanged in April and June.