Bank of Canada to hold rates steady on July 30, but cut two more times in 2025- Reuters poll

By Indradip Ghosh and Mumal Rathore

BENGALURU (Reuters) -The Bank of Canada will hold its overnight interest rate steady at 2.75% on July 30 for the third consecutive meeting thanks to a recent rise in inflation and a fall in unemployment, according to a Reuters poll of economists that still found many expect at least two more cuts this year.

The Canadian central bank has cut rates by a total of 225 basis points since June 2024, but has been on hold since March as policymakers await news on where a confusing barrage of U.S. tariff threats will eventually settle.