[Bank of Canada: Brent Crude Oil Prices Expected to Drop to Around $70 by End of 2027] According to a report by Jinse Finance on July 15, the Bank of Canada stated that one major risk to rising inflation is that businesses may pass increased input costs onto consumers, thereby creating new price pressures. The bank also expressed concern that its productivity estimates might be 'weaker than previously assumed,' which would imply a smaller economic output gap and greater inflationary pressure. The Bank of Canada outlined downside risks to inflation, including the potential tightening of global financial conditions and a weaker-than-expected domestic economic recovery. The Bank of Canada expects Brent crude oil prices to drop to around $70 by the end of 2027, noting that the outlook for oil prices remains highly uncertain. This forecast is based on the futures price curve as of July 9, which is slightly lower than the forecast made in April. Policymakers also raised their export outlook, partly due to increased 'energy-related activities.'