刚刚宣布：不降息！

Core Viewpoint - The Bank of Canada (BoC) maintains the overnight rate target at 2.25%, aligning with market expectations, amidst ongoing global central bank activities [2][3]. Group 1: Monetary Policy Decisions - On December 10, the BoC announced the overnight rate target remains at 2.25%, with the bank rate at 2.5% and the deposit rate at 2.20% [3]. - The decision to keep the policy rate unchanged reflects the council's view that it is appropriate to support the economy during structural transitions while controlling inflation [7]. Group 2: Economic Context - The BoC Governor, Tiff Macklem, highlighted three main points: 1. High tariffs imposed by the U.S. on steel, aluminum, automobiles, and lumber have severely impacted these sectors, contributing to broader uncertainty in business investment [7]. 2. Despite additional costs from trade restructuring, inflation remains controlled, with the Consumer Price Index (CPI) inflation rate close to the 2% target for over a year [7]. 3. The council believes the current policy rate is suitable for keeping inflation near the target while aiding the economy through structural adjustments [7]. Group 3: Economic Indicators - Recent data shows that Canada added approximately 53,000 jobs in November, significantly exceeding market expectations, and the unemployment rate decreased to 6.5% [9]. - The third quarter GDP unexpectedly grew at an annualized rate of 2.6%, reinforcing the view among economists to pause interest rate cuts this year [9]. Group 4: Future Outlook - The BoC acknowledges high uncertainty, particularly regarding U.S. trade policies and the upcoming review of the Canada-U.S.-Mexico Agreement, which adds to business uncertainty [8]. - The council is prepared to take responsive measures if economic conditions change significantly, despite current satisfaction with the policy rate [8].