The Globe and Mail reports in its Tuesday, July 22, edition that President Donald Trump's unpredictable trade policy has dampened Canadian businesses and consumer confidence, though fewer now anticipate a worst-case tariff scenario, according to recent Bank of Canada surveys. The Globe's Mark Rendell writes that the survey, conducted in late April and May, reflected widespread concern as tariffs were implemented. Canadian companies reported reduced investment and hiring, while consumers expressed concerns about job security and delayed major purchases. The surveys revealed relief that U.S. tariffs have not had the severe impact many feared earlier in the year when Mr. Trump threatened broad tariffs before exemptions were introduced. The BOC said, "Fewer businesses are considering extremely negative scenarios in their planning." The Globe says this hint of optimism reinforces expectations that the BOC will hold interest rates steady for the third consecutive time when it meets next week. After a string of better-than-expected economic data in recent weeks, financial markets are pricing a nearly 90-per-cent chance that the central bank will keep its policy rate at 2.75 per cent next Wednesday.