Bank of Canada governor Tiff Macklem is expected to leave the door open for further rate relief in the second half of the year and for the central bank to provide a firmer growth forecast in its monetary policy report in July. Photo by DAVE CHIDLEY/AFP via Getty Images/Postmedia files

Economists expect the Bank of Canada to maintain its cautious approach by holding its policy rate in place on Wednesday as it continues to assess the impact of U.S. President Donald Trump’s trade war on the Canadian economy .

“We expect them to be on hold again at the June meeting,” said Jason Daw, head of North American rate strategy at the Royal Bank of Canada. “Given that they went on hold at the April meeting, the bar for them to cut again would be quite high, and the data that we’ve had in

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