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fxJul 16, 2026, 2:14 PM

BoC Holds at 2.25%, Removes Hike Language: CAD Could Remain Stuck

The Bank of Canada kept its key interest rate at 2.25% and dropped language suggesting further tightening, leading analysts to expect the Canadian Dollar to remain range-bound against the US Dollar.

USDCAD

The Bank of Canada (BoC) left its benchmark interest rate unchanged at 2.25%, as widely expected. In a notable shift, the central bank removed previously hawkish language about future rate hikes from its statement.

The decision comes after a period of volatile trading for the Canadian Dollar, which has now entered a consolidation phase against the US Dollar. The removal of hike language suggests the BoC is adopting a more cautious stance, potentially capping upside for CAD in the near term.

Source: FXStreet Forex News