Bank of Canada summary of discussions: Underlying inflation pressure could continue

At the June 4 meeting, the Bank of Canada held rates unchanged at 2.75%. The market is pricing in a 20% chance of a cut on July 30 and just under a single full rate cut by year-end.

Yesterday, Canadian and US officials indicated they had set a 30-day deadline for a trade deal and that’s a key indicator on what the central bank will do next.

Highlights of the meeting:

Boost in export growth could dissipate quickly as tariffs and uncertainty hit