July 15th
The Bank of Canada announced today that it is holding its overnight rate at 2.25% for the sixth consecutive announcement. This was widely expected and means there will be no immediate change to variable-rate mortgages or home equity lines of credit.
The Canadian economy is showing some signs of improvement after a slow start to the year. Consumer spending remains solid, exports are beginning to recover, and housing activity appears to be stabilizing. However, the job market remains soft, and there is still considerable uncertainty surrounding U.S. trade policy and the conflict in the Middle East.
Inflation increased to 3.2% in May, mainly because of higher gasoline prices. When gasoline is removed, inflation was 2.2%, with core inflation remaining close to the Bank’s 2% target. The Bank expects inflation to remain elevated in the short term before gradually returning to approximately 2% in early 2027.
June 10th
While many Canadians are focused on summer plans, the Bank of Canada continues to keep a close eye on inflation, economic growth, and interest rates. As expected, the Bank of Canada announced today that it is holding its overnight lending rate at 2.25%, marking the fifth consecutive rate hold.
The Bank finds itself in a challenging position. On one hand, the Canadian economy remains weak, with slow growth, soft housing activity, and cautious consumer spending. On the other hand, rising oil prices and ongoing conflict in the Middle East are putting upward pressure on inflation.
Inflation currently sits at 2.8%, which is still within the Bank's target range, but policymakers are closely monitoring energy prices to ensure they do not create broader inflationary pressures throughout the economy.
April 29th
The Bank of Canada held its overnight rate at 2.25% today, marking another pause and continuing the “wait and see” approach we’ve been talking about over the past few months
At a high level, the Bank is dealing with two competing forces: rising inflation in the short term and a softer, more uncertain economy longer term.
Inflation ticked up to 2.4% in March and is expected to move closer to 3% in April, largely driven by higher gas prices. At the same time, the broader economy is not exactly firing on all cylinders. Growth is modest, the labour market is soft, housing activity remains subdued, and ongoing trade uncertainty is weighing on business investment. So the Bank is essentially saying: inflation is creeping up, but they’re not convinced it’s here to stay.
March 18th
The Bank of Canada held its benchmark interest rate at 2.25% today, marking the third consecutive hold. While this decision was widely expected, the reasoning behind it — and what comes next — is where things get interesting.
At a high level, the Bank is taking a wait-and-see approach. Inflation has come down and is sitting close to target, but the broader economy is showing signs of weakness. At the same time, global uncertainty — particularly the ongoing conflict in the Middle East — is pushing energy prices higher and creating new inflation risks.
January 28th
Bank of Canada Interest Rate Announcement Dates / 加拿大央行利率公佈日期
January 28th +0.00
March 18th +0.00
April 29th +0.00
June 10th +0.00
July 15th +0.00
September 2nd
October 28th
December 9th
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