The Globe and Mail reports in its Friday edition that the Bank of Canada held interest rates steady at 2.25 per cent this week for the sixth consecutive decision, in a move that will keep variable rate mortgages stable for the time being. The Globe's Salmaan Farooqui writes that Governor Tiff Macklem said Wednesday that economic growth appears to be resuming after stalling earlier this year, but war in the Middle East remains volatile and oil prices could increase again. For months, the Bank of Canada has been balancing inflationary pressure from the war with a shaky economy. The former issue would imply the need to increase rates, while the latter could be helped with lower rates. However, most Bay Street economists expect that the Bank of Canada will stand pat for the rest of the year. Douglas Porter, chief economist at Bank of Montreal, said in a note to clients that a dramatic flare-up in oil prices are the main factor that could upend his expectations that interest rates will hold. The bond-swap markets, which capture investor sentiment on monetary policy, expect that a rate increase is possible by the end of the year. Meanwhile, fixed rate mortgages, have remained relatively steady around the 4-per-cent level.