The Bank of Canada has maintained its key interest rate at 2.25%, maintaining the overnight rate and the deposit rate at a level of 2.5% and 2.20%. This decision comes amid heightened volatility and ongoing uncertainty over global trade patterns. The Bank's April outlook assumes tariffs remain unchanged and the global benchmark price of oil declines to US$75 per barrel by mid 2027. The Iran war has led to sharply higher energy prices and transportation disruptions, decreasing growth prospects in oil-importing countries, and boosting inflation worldwide. In the United States, growth is expected to be solid over the projection horizon, boosted by AI-related investment and consumption growth, while China's economy is supported by robust exports. The outlook for economic growth in Canada is little changed from the January Monetary Policy Report projection. The bank's April forecast projects GDP growth of 1.2% in 2026, rising to 1.6% in 2022, and 1.7% in 2025, with growth expected to resume in early 2026.