The Globe and Mail reports in its Wednesday edition that Canada's annual inflation rate rose to 1.9 per cent in June from 1.7 per cent in May, aligning with analyst expectations. The Globe's Nojoud Al Mallees writes that core inflation measures remain about 3 per cent, indicating persistent price pressures, leading to expectations that the Bank of Canada will not cut interest rates this month. Meanwhile, the U.S. reported a rise in annual inflation to 2.7 per cent, with signs higher tariffs are affecting consumer prices for goods like clothing and home furnishings. Expectations are growing that tariffs will stay in place as the U.S. pursues trade deals. Prime Minister Mark Carney stated Tuesday that there is little evidence Canada will see all tariffs removed in an agreement with the Trump administration, marking his first public acknowledgment of this outcome. However, the trade outlook is not expected to push the BOC to cut interest rates just yet. CIBC economist Ali Jaffery states that following a positive job report and ongoing price pressures, the BOC is likely to stay on hold in July. This pause allows more time to assess cost pressures, economic reactions to tariffs and the overall tariff situation in Canada.