Many Canadians are eagerly watching the Bank of Canada’s interest rate announcement this week to see if it could mean a bit more breathing room for their finances.
But many experts believe the current rates for those who make regular payments on loans like a mortgage won’t be changing any time soon.
This is partly to do with how U.S. President Donald Trump’s tariffs are impacting Canada’s economic landscape.
Canada’s central bank could potentially change interest rates on Wednesday. Although most experts believe that amount won’t rise in the near future, they say it is more likely rates will stay the same rather than come down.
“The Bank of Canada has little confidence in the outlook,” Bank of Nova Scotia vice-president and head of capital markets Derek Holt says.
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“GDP is tracking a little firmer than anticipated and (the Bank of Canada) is in no rush to react.”
Unlike regular banks — like those on Bay Street, for instance — the Bank of Canada …