1114 ET - A recently departed senior Bank of Canada official says "the most likely scenario" is no change in the central bank's main interest rate this year. Rhys Mendes, who left the BOC's governing council in April, tells a KPMG Canada economics podcast that the economy is treading water. "There is slack in the economy, clearly," he says. "It'll still take time for the slack in the economy to be absorbed. And I think that gives the Bank of Canada some extra breathing room to wait and see." Mendes remarks were recorded on June 12, or before crude-oil prices fell on a breakthrough between the U.S. and Iran. Lower crude-oil prices could alleviate concerns about a further acceleration in inflation. (paul.vieira@wsj.com)

(END) Dow Jones Newswires

June 16, 2026 11:14 ET (15:14 GMT)

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