The Globe and Mail reports in its Monday, July 28, edition that the Bank of Canada and the U.S. Federal Reserve are expected to maintain steady interest rates this week amid uncertainties from President Donald Trump's trade policy and his criticism of Fed chair Jerome Powell. The Globe's Mark Rendell writes that both central banks will announce their decisions on Wednesday, two days before Mr. Trump's Aug. 1 deadline for a U.S.-Canada trade deal. The BOC is anticipated to keep its rate at 2.75 per cent, while the Fed is expected to hold its rate in the 4.25 to 4.5 per cent range, where it has been since December. Mr. Trump's global trade war has complicated monetary policy, pushing central bankers into a wait-and-see approach. While tariffs can raise consumer prices and fuel inflation concerns, they may also dampen economic growth and increase unemployment, which can lower inflation over time. Inflation is the number one concern for central banks. As a result, central bankers are closely analyzing data rather than relying on forecasts. In its April Monetary Policy Report, the BoC chose not to publish a central forecast due to significant uncertainty regarding U.S. tariffs and their economic impact.