The Bank of Canada has held its overnight rate at 2.25% through six consecutive decisions since October 2025, with swap markets pricing next Wednesday's seventh hold as close to a formality. Statistics Canada's preliminary estimate put second-quarter growth at an annualized 3.4%, well above the Bank's own 2.5% forecast, reinforcing the case for continued stability. The more consequential rate event this week is US Federal Reserve Chair Kevin Warsh's first Jackson Hole keynote on Friday, three weeks ahead of the next Fed meeting.
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