RBC: Economic improvement supports a "wait-and-see" stance, Bank of Canada expected to keep rates unchanged for the sixth consecutive time

```htmlGolden Ten Data reported on July 15 that the market widely expects the Bank of Canada to keep the overnight rate unchanged at 2.25% when it announces its interest rate decision on Wednesday. This would mark the sixth consecutive time the rate is held steady, following a total 50 basis point cut in September and October last year. Royal Bank of Canada stated that, over the past month, the surge in oil prices has not yet shown clear signs of evolving into a broader, sustained inflation shock. The bank further pointed out that, meanwhile, Canada's economic growth and labor market data have improved compared to earlier levels. Previously, GDP growth for the first quarter unexpectedly fell short of expectations, but the momentum for economic growth picked up in the second quarter and the labor market showed further signs of stabilizing in May and June, while consumer spending data remain resilient. The bank believes that overall, although Canada's economy remains sluggish, per capita economic growth is expected to gradually improve. Against this backdrop, they expect the Bank of Canada is likely to keep interest rates unchanged throughout 2026.```