Later today the Bank of Canada (BOC) will announce whether to raise interest rates, hold the existing rate, or (heaven forbid) reduce the interest rate!

Before I put out my own opinion on how things are going to go, a quick summary of Canadian interest rates vs. American rates: over the past couple years, the United States has increased interest rates from 0.25% to 1%, with most of that growth being tied up in the election of Donald Trump. On the other hand, Canada reduced interest from 1% to 0.5% when the prices of oil and natural resources slumped from 2014-2015.

Now as for how it's likely going to go today: while Canada has had about as strong a 2017 as it possibly could considering its circumstances, it's unlikely to cause the Bank of Canada to increase rates. Why?
(1) Economic growth hasn't been strong enough to warrant it
(2) The big one...

Donald Trump

Donald Trump's aggressively protectionist end-game would be a net loss for Canada, as most of our economic growth has come from tariff-free exports to the United States (which could come to a bitter end). Thus why would the BOC raise interest rates, only to reduce them again shortly after?

IMAGE CREDIT:

https://pixabay.com/en/currency-money-dollars-payment-2197315/ (by Design_Miss_C)