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BoC Holds Rate as Canada Slides into Technical Recession

6/10/2026

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Summary

Story summary

Bank of Canada is expected to hold its benchmark rate at 2.25 per cent for a fifth straight meeting on Wednesday.
Statistics Canada reported a technical recession with Q1 GDP down 0.1 per cent annualized, unemployment at 6.6 per cent in May after 88,000 jobs were added.
Inflation rose to 2.8 per cent in April, the fastest in almost two years, while core inflation fell to 2.0 per cent within the Bank’s target.

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Story summary

Bank of Canada is expected to hold its benchmark rate at 2.25 per cent for a fifth straight meeting on Wednesday.
Statistics Canada reported a technical recession with Q1 GDP down 0.1 per cent annualized, unemployment at 6.6 per cent in May after 88,000 jobs were added.
Inflation rose to 2.8 per cent in April, the fastest in almost two years, while core inflation fell to 2.0 per cent within the Bank’s target.