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Key takeaways from the Bank of Canada meeting minutes for July 2026
USD/CAD — All Desk Targets
25 desks
| Firm | Stance | YE 2026 |
|---|---|---|
Bank of America | Bullish | 1.35 |
UBS | Bullish | 1.34 |
Rabobank | Bullish | 1.36 |
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The Bank of Canada meeting minutes for the July 15 rate decision commented: Ahead of the Bank of Canada's July 15 rate announcement, Governing Council members were split over whether the recent rebound in the economy would prove sustainable. Brazil's Labor Ministry reported that
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Bank of Canada July meeting recap: steady stance and forecast revisions - rbc.com
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Bank of Canada rate decision 2.25% vs 2.25% expected
DESK NOTERBC Economics
Forward Guidance: Bank of Canada to hold interest rates as prices rise but economy wobbles
Per the full note [source], RBC Economics expects the Bank of Canada to hold rates steady on June 4, 2025, following a close call after April's pause. The decision is supported by upside inflation surprises and stabilizing consumer spending, while labor market weakness and trade risks argue for a cut. The bias is dovish hold, with market focus on Friday's employment report and Thursday's trade data for confirmation of the economy's trajectory.