The Bank of Canada’s decision to hold interest rates steady again on Wednesday came as no surprise, but a fresh upsurge in oil prices and a new escalation in the US-Iran war are raising questions about whether hikes could be ahead before the end of the year. The central bank said in its latest statement that long-term inflation expectations “remain well anchored” despite the conflict’s latest flareup, although it highlighted that the global inflation outlook remains highly dependent on how long that war drags on.
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