OTTAWA – The Bank of Canada will make a scheduled interest rate announcement and release its economic forecast amid widespread uncertainty as Donald Trump prepares to be sworn in as U.S. president later this week.
It’s widely anticipated that Bank of Canada governor Stephen Poloz will hold the benchmark rate at 0.5 per cent.
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The central bank will also release its updated economic projections, but the forecasts are unlikely to factor in any potential repercussions for Canada from Trump’s promises in areas like taxation, trade and tariffs.
Poloz has declined to publicly discuss how proposed U.S. policy changes that could be introduced under Trump could affect Canada.
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Experts have expressed concerns that Trump’s proposals could have significant economic consequences for Canada.
Recent data releases, including the most recent numbers for retail trade, have shown encouraging signs in some areas of the Canadian economy.
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