1532 ET - The Bank of Canada minutes, summarizing deliberations ahead of the Jan. 28 decision, was largely an admission from policymakers that, "we don't know," where rates are headed, says Benjamin Reitzes, economist at BMO Capital Markets. The minutes indicated officials were consumed with myriad sources of turbulence and uncertainty, Reitzes says, such as the upcoming USMCA review, tariff threats, and fresh geopolitical tension. The BOC minutes say that the risk to inflation from those factors are two-sided, Reitzes adds. "Policymakers are comfortably on hold, with no clear bias on where to go next," Reitzes says. "The BOC is waiting for a catalyst before they consider moving on policy." (paul.vieira@wsj.com; @paulvieira)

(END) Dow Jones Newswires

February 11, 2026 15:32 ET (20:32 GMT)

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