Canada's central bank maintained its key lending rate at 0.5% today, citing a "climate of heightened uncertainty".
This follows this year's massive wildfires and Britain's decision to leave the EU.
"Real GDP grew by 2.4% in the first quarter but is estimated to have contracted by 1% in the second quarter, pulled down by volatile trade flows, uneven consumer spending, and the Alberta wildfires," the Bank of Canada said in statement.
The central bank added that "in the wake of Brexit, global markets have materially re-priced a number of asset classes."
