The Financial Post reports in its Tuesday, Aug. 12, edition that the financial market anticipates the Bank of Canada will reduce its policy rate to 2.25 per cent by the end of 2025 and maintain it through 2026, based on a recent survey of 30 participants. The Post's Jordan Gowling writes that the survey was conducted from June 25 to July 3, it preceded the July 30 decision to keep the overnight rate at 2.75 per cent for the third consecutive time. Key reasons for this hold include trade uncertainty, a more resilient economy and persistent core inflation around 3 per cent since April. Still, BOC Governor Tiff Macklem left the door open for further rate relief. Mr. Macklem said on July 30, "If a weakening economy puts further downward pressure on inflation and the upward price pressures from trade disruptions are contained, there may be a need for a reduction in the policy interest rate." Survey respondents' median expectation for headline inflation was 2.2 per cent by the end of 2025 and 2 per cent by the end of 2026. They also pegged Canada's gross domestic product growth at 0.8 per cent at year-end and 1.8 per cent by the end of 2026, and they put the probability of a recession in the next six months at 35 per cent.