Bank of Canada Uncertain If Next Rate Move Will Be Cut or Hike

Bank of Canada officials agreed on holding the overnight rate at 2.25% earlier this month, but are unsure whether their next policy shift will be to lower rates again or to raise them.

In a summary of deliberations of their Dec. 10 decision, policymakers said the “high level of uncertainty” made it “difficult to predict when and in which direction the next change in the policy rate would be.”