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Once again, the Bank of Canada held the overnight interest rate at 2.25%, but signalled that higher oil prices due to the war in Iran will push up inflation in the near term.

Scotiabank’s Chief Economist Jean-François Perrault is back on the podcast to break down the latest rate decision, what it could mean for Canadians and what we could see in the second half of the year.

For legal disclosures, please visit ⁠http://bit.ly/socialdisclaim⁠ and ⁠www.gbm.scotiabank.com/disclosures⁠

Key moments this episode:

1:05 - JF walks us through the Bank of Canada's decision

2:23- JF paints a picture of Canada's economy and why it prompted the central bank to hold its key rate steady

5:18 - An overview of how the war in Iran affects the Canadian economy

9:22 - Unpacking how different provinces in Canada will be affected differently

11:33 - JF weighs in on when a policy rate change may be needed

15:06 - JF's outlook for interest rate decisions and why he still expects a rate hike in 2026

17:18 - A look at Canada's housing market and why you should consider renewing your mortgage soon

18:58 - JF's main takeaways for Canadians