Economists are closely watching the Bank of Canada as it prepares to announce its decision on the key interest rate, expected to remain at 2.25%. The recent spike in gas prices is putting pressure on consumers, leading analysts to speculate about the central bank's next move.
Despite concerns over inflation, many believe the current oil shock will be short-lived, allowing the Bank of Canada to hold rates steady for now. This decision reflects a cautious approach amid fluctuating economic conditions.