Canadian Imperial Bank of Commerce: It is expected that the Bank of Canada will once again keep interest rates unchanged in July.

The Capital Markets Division of the Canadian Imperial Bank of Commerce stated that the June inflation report in Canada is likely to mean that the Bank of Canada will once again maintain interest rates at the policy decision on July 30th. The Canadian Imperial Bank of Commerce said that the June CPI report, along with unexpectedly strong employment data, indicates that the Bank of Canada will continue to stand pat. The institution stated that by autumn, Bank of Canada officials may have a clearer understanding of the impact of U.S. tariffs. The White House has set a deadline of August 1st for Canada, demanding that an agreement be reached through negotiations to resolve the current trade dispute.