08:15 AM EDT, 06/11/2026 (MT Newswires) -- The Bank of Canada kept rates unchanged on Wednesday, as widely expected by markets and consensus, said RBC.

The BoC's assessment of the economy, inflation and risk factors was essentially unchanged compared with April, noted the bank.

Canada's central bank had an opportunity, with the gross domestic product being weaker than expected, to sound more dovish, but didn't take it, stated RBC.

The BoC is content with the current policy rate setting and either (i) the growth outlook needs to change materially or (ii) a risk factor comes to fruition (trade restrictions leading to a cut, or oil results in generalized inflation, leading to a hike) to move the BoC off its spot.

The policy outlook is complicated by a trimodal distribution -- cuts, hold, hike. However, RBC is still content with its view that the next move will likely be a hike in 2027 and that no change this year is the path of "least resistance."