The Bank of Canada's July 15 Monetary Policy Report projected inflation returning to 2% by early 2027, built on oil settling between $70 and $75 a barrel. WTI is now trading near $83.48, roughly $8 to $13 above that band, after a weekend of escalation in the Iran conflict pushed prices higher. With the Bank's next scheduled decision not until September 2, and no fresh Monetary Policy Report until October 28, policymakers have limited room to respond if oil stays elevated.
This chart is presented for general informational purposes only and does not constitute financial, investment, tax, or legal advice. Figures reflect the source and period indicated and may no longer be current.
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