US Edition
Bank of Canada Hoping for Better Look at ‘Complicated’ Inflation Picture
CANADA, JUN 22 – The Bank of Canada faces inflation uncertainty from tax changes and tariffs as economists expect May's inflation rate near 1.8%, influencing the July interest rate decision.
- The Bank of Canada is set to examine a pair of inflation updates prior to making its interest rate decision on July 30, 2025.
- The central bank opted to maintain its interest rate at 2.75 percent for the second consecutive time amid ongoing uncertainty stemming from the Canada-US tariff conflict and recent inflation figures.
- April's annual inflation slowed to 1.7 percent, but core inflation exceeds three percent, and April’s inflation excluding taxes was stronger than expected at 2.3 percent.
- Governor Tiff Macklem called the inflation picture “complicated” and warned that some distortions could exaggerate price pressures amid tariff impacts and tax changes.
- The Bank of Canada may lower interest rates to support the economy if upcoming inflation reports show sustained containment despite tariffs and other pressures.
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The consumer price index increased by 1.7% from year to year in Canada in May, an increase equivalent to that observed in April.
·Montreal, Canada
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May inflation data coming as Bank of Canada looks for trade war impacts
OTTAWA — Statistics Canada is set to publish inflation data for May this morning. A poll of economists provided by LSEG Data & Analytics expects the annual pace of inflation held steady at 1.7 per cent last month.
·Flin Flon, Canada
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Coverage Details
Total News Sources39
Leaning Left18Leaning Right3Center3Last UpdatedBias Distribution75% Left
Bias Distribution
- 75% of the sources lean Left
75% Left
L 75%
13%
13%
Factuality
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