Bank of Canada Deliberations Show a Council Content to Wait and Watch

The Bank of Canada released the summary of deliberations behind its July 15 decision on July 29, 2026, showing a Governing Council content to hold rates steady while it waits for more clarity on the risks facing the economy.

The document is the Bank's account of the discussion that shaped its decision, published roughly two weeks after each rate call. It confirmed the policy rate was held at 2.25 percent, the sixth consecutive hold. Council members weighed risks tied to oil prices and US trade policy against emerging signs that the economy's recovery was resuming.

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