# The 8-4 vote was the most divisive since October 6, 1992.

*fintech · news · 2026-04-29 · The Globe and Mail*

## Key points

- The Bank of Canada highlighted a glut of unsold small condos as restraining new housing construction.
- BoC's latest policy report assumes Brent crude will decline to US$75 by mid-2027 if Strait of Hormuz reopens.
- If U.S. imposes significant new trade restrictions, BoC may cut rates to support economic growth.
- BoC sees little evidence so far that higher oil prices have spread to broader inflation.
- Canadian steel exports have halved from U.S. tariffs, but losses were less severe than expected.

**Countries:** United States, Canada, Iran

[Read the full story on The Globe and Mail](https://www.theglobeandmail.com/business/article-bank-of-canada-interest-rate-april-29-oil-prices-live/)

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