Can Canadians expect any relief on interest rate?

Canadians expect no relief on interest rate front. Ahead of the Bank of Canada meeting, most economists and market analysts say that the central bank is likely to keep interest rates steady at 2.75 per cent for the third consecutive time, given the strength in core inflation and jobs.

Doug Porter, chief economist at BMO Capital Markets, said that according to the Bank of Canada, core inflation is still slightly above 3 per cent.

He said that the impact of Trump's tariffs on steel, aluminum and automobiles was limited to these sectors, while other sectors saw good job growth in June. Meanwhile, money markets have also given only a 7 to 8 per cent chance of a rate cut.