The Bank of Canada held its benchmark interest rate steady at 2.25% for the seventh consecutive time. ^[1] The Bank of Canada held its overnight interbank rate at 2.25% during its seventh consecutive policy meeting on Wednesday. ^[2] The Bank of Canada maintained its benchmark interest rate at 2.25% on Wednesday, a level that has remained unchanged since October 2025. ^[3] The Bank of Canada kept its key policy rate on hold at 2.25% as widely expected. ^[4] The Canadian dollar traded 0.4% higher at 1.3840 per U.S. dollar on Wednesday, recovering from a low of 1.3939. ^[5] Bank of Canada Governor Tiff Macklem unveiled a new 20-dollar banknote featuring King Charles III at a ceremony in Ottawa, Canada. ^[6] The new 20-dollar banknote is the first Canadian banknote to feature King Charles III's portrait, and the first time a new monarch has appeared on Canadian currency in over 70 years. ^[7] A breakdown in trade negotiations with Washington last month, a new wave of American tariffs, and Ottawa's threat to retaliate have added to uncertainty about the Canadian economy. ^[8] Governor Tiff Macklem led the decision to keep borrowing costs stable while assessing the uncertainty caused by escalating tariff disputes between Canada and the United States. ^[9] The Canadian government announced retaliatory measures effective September 8 targeting hundreds of US articles. ^[10] The Trump administration imposed 50% tariffs on hundreds of Canadian products. ^[11] Governor Tiff Macklem stated that new tariffs imposed by Washington on Canadian exports and retaliatory taxes announced by Ottawa have increased uncertainty about the continuity of the country's economic recovery. ^[12]