Bank of Canada Likely to Stay on Hold as Oil Scrambles the Outlook

The Bank of Canada is likely to hold interest rates steady as policymakers weigh the inflation risk of higher oil prices against a string of weak economic numbers.

Economists surveyed by Bloomberg are unanimous in saying Governor Tiff Macklem and his council will keep the policy rate at 2.25% for a third straight meeting on Wednesday. That’s the market’s expectation too.