On Wednesday, June 4, 2025, the Bank of Canada held its target for the overnight lending rate at 2.75%, marking the second consecutive decision to hold rates steady, following a series of cuts that began in April 2024.
The Bank emphasized that uncertainty surrounding U.S. trade policy remains elevated, with the current U.S. administration continuing to increase and decrease various tariffs, including the recent doubling of tariffs to 50% on steel and aluminum, along with new trade actions still being threatened.
Bank of Canada Maintains Rate at 2.75%
On Wednesday, June 4, 2025, the Bank of Canada held its target for the overnight lending rate at 2.75%, marking the second consecutive decision to hold rates steady, following a series of cuts that began in April 2024.
The Bank emphasized that uncertainty surrounding U.S. trade policy remains elevated, with the current U.S. administration continuing to increase and decrease various tariffs, including the recent doubling of tariffs to 50% on steel and aluminum, along with new trade actions still being threatened.