Bank of Canada Expected to Remain Sidelined Until There's Clarity on USMCA -- Market Talk

Dow Jones02-24

0739 ET - Expect the Bank of Canada to remain on hold until the outcome of USMCA negotiations becomes clearer, then it will begin to raise interest rates, Bank of Nova Scotia says in its quarterly report to shareholders. The bank currently assumes the North America free trade pact will be renewed with modest adjustments, though it concedes uncertainty around this and other geopolitical and financial risk largely tied to U.S. policies pose a significant risk to its outlook. As it stands, it anticipates inflationary pressures will keep core inflation in the upper half of the central bank's 1%-3% target range. It forecasts the policy interest rate will reach 3% by early 2027. (robb.stewart@wsj.com; @RobbMStewart)

(END) Dow Jones Newswires

February 24, 2026 07:40 ET (12:40 GMT)

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