Bank of Canada says it will rely on judgment more than usual for rate decisions
Published on April 1, 2026.
The Bank of Canada's governing council has agreed to rely more heavily on its judgement on rate decisions due to heightened global uncertainty. The Iran war resulted in a surge in crude oil prices and concerns of inflation. The central bank kept its benchmark rate unchanged at 2.25% on March 18. The council will review the impact of the war's immediate impact on inflation but will respond if inflation becomes persistent. The bank has kept its policy rate at the lower end of its neutral level since October and has been monitoring the conflict in the Middle East, US trade policy and incoming data.
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