BoC Expected to Hold 2.25% Rate as Oil Shocks from Hormuz Lift Inflation Fears

The Bank of Canada is set to keep its policy rate unchanged at 2.25% on April 28, 2026, amid surging inflation expectations driven by Middle East disruptions in the Strait of Hormuz. Wall Street Journal reports confirm all 13 surveyed economists predict no change today, but elevated crude oil prices—hitting $108.44 (+1.46%)—and a recent BoC survey showing sharply higher near-term inflation could prompt tighter policy later. Initial coverage noted war worries and oil around $100.21 (+3.98%), with markets watching for signals on bond yields and USDCAD positioning as volatility rises.