The Globe and Mail reports in its Thursday, April 30, edition that the Bank of Canada kept its benchmark interest rate unchanged but indicated that adjustments may be necessary if global oil prices stay high or trade talks with the U.S. and Mexico face issues. The Globe's Mark Rendell and Maia Tustonic write that the BOC's governing council held its policy rate at 2.25 per cent for the fourth consecutive time, despite rising energy prices from the Iran war impacting Canadian consumers at the gas pump. Governor Tiff Macklem said the current interest rate level seems appropriate, assuming oil prices decline and that no new tariffs are imposed by the U.S. on Canadian goods. However, he noted that Canada faces two significant risks that could influence interest rates in the coming months. Mr. Macklem said that if oil prices continue to rise and stay high for a while, consecutive policy rate increases may be necessary. At the same time, "if the United States imposes significant new trade restrictions on Canada, we may need to cut the policy rate further to support economic growth," he said, pointing to the uncertainty surrounding the review of the United States-Mexico-Canada trade agreement, which is scheduled for July 1.