001-43_EJQR9_SUMMER26_PT - Flipbook - Page 28
General Market Commentary
THE BANK OF CANADA is holding its policy rate at 2.25 per cent—as
Governing Council considered recent geopolitical developments and the
Bank’s outlook for growth and in昀氀ation in Canada.
In recent months, economic growth was expected to be moderate, and
in昀氀ation was expected to peak at around three per cent before gradually
returning to two per cent, assuming oil prices ease. Members of the
Governing Council agreed they could look through the initial impact of the
war in the Middle East on gasoline prices, and that the current degree of
policy support was appropriate.
Despite the global volatility, the cleantech business in Canada continues
to stay strong. It was bolstered further on May 14th, by Prime Minister
Carney’s announcement about the new National Electricity Strategy.
“In a rapidly changing and more volatile world, Canada is taking control
of our future. With our new National Electricity Strategy, we will build at
scale and speed to double our grid and power Canada strong with clean,
a昀昀ordable, reliable energy for all generations,” stated Prime Minister
Carney. “When we master energy, we master our destiny.”
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