ECB Signals Steady Rates Ahead as Policymakers Warn of Inflation Risks 
BOJ Faces Pressure for Clarity, but Neutral Rate Estimates Likely to Stay Vague 
BOJ’s Noguchi Calls for Cautious, Gradual Interest Rate Hikes to Sustain Inflation Goals 
New RBNZ Governor Anna Breman Aims to Restore Stability After Tumultuous Years 
RBA Holds Rates but Warns of Rising Inflation Pressures 
Kazakhstan Central Bank Holds Interest Rate at 18% as Inflation Pressures Persist 
Fed Officials Split as Powell Weighs December Interest Rate Cut 
Canada Stocks Steady as Markets Await Fed and BoC Decisions 
The Bank of Canada maintained its policy rate at 2.25%, in line with market forecasts. In its opening statement, the BoC stated that tariffs and persistent trade uncertainty continue to weigh on corporate investment, but that the economy has demonstrated considerable resilience. It also noted that hiring intentions remain low, despite recent improvements in labor market circumstances.
The Bank anticipates inflation to remain moderate in the coming months, but warns that there may be some short-term "choppiness" in inflation data. However, policymakers emphasized that such volatility is likely to be temporary, and that underlying inflation remained around 2.5%.
Importantly, the statement reiterated that if inflation and economic activity evolve broadly in line with the October projection, the Governing Council believes the current policy rate is roughly appropriate to keep inflation close to the 2% target while supporting the economy during a period of structural adjustment.
