BNN Bloomberg is Canada\u2019s definitive source for business news dedicated exclusively to helping Canadians invest and build their businesses. <\/p>\n
Here are five things you need to know this morning<\/p>\n
Bank of Canada weighs oil price impact <\/a><\/p>\n The Bank of Canada is widely expected to keep its benchmark interest rate unchanged at 2. 25 % today, as it weighs multiple factors that have clouded the outlook for inflation and the economy. In addition to trade uncertainty, the war in the middle east \u2013 and its impact on oil prices and inflation – has added more ambiguity to economic outlooks. We will break the news live on BNN Bloomberg at 9:45 am eastern time, with expert analysis \u2026 then bring you Tiff Macklem\u2019s news conference at 10:30 et <\/p>\n Fed expected to hold on rates<\/a><\/p>\n The U.S. Federal Reserve will make a policy announcement as well today. The Fed is also expected to keep rates on hold, in what could be Jerome Powell\u2019s final meeting as Fed chair. Despite pressure from U.S. President Trump, stubborn inflation and a resilient labour market leaves little room for interest rate cuts at this time. That announcement comes at 2pm et.<\/p>\n Ottawa\u2019s fiscal plan<\/a><\/p>\n Late yesterday afternoon the federal government\u2019s spring economic update included a lower projected deficit by almost $12 billion. However, the figure is tracking to decline only nominally in the years ahead. The update also included investing plans for billions on training and recruiting skilled trade workers; millions on Canadian athletes and sporting events, and reducing the Canada Pension Plan contribution rate. <\/p>\n