OTTAWA—The Bank of Canada held its interest rate steady at 2.25 percent for a sixth straight meeting, saying that economic growth appears to be recovering and inflation looks set to fall as oil prices decline.
“The data we have received since April have increased our confidence that the economy is indeed working its way through this period of global upheaval,” Bank of Canada Governor Tiff Macklem told reporters on July 15.
Macklem said economic growth seems to have resumed in Canada after stalling over the past year. He said U.S. trade policy has continued to add pressure, but Canadian consumers and businesses have adapted….