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Bank of Canada

CAD · Official Website

Latest Statement

⚖️ Neutral

Bank of Canada maintains the policy rate at 2¼% - Bank of Canada

2026-07-15

The Bank of Canada has decided to maintain the policy rate at 2¼% as the economy shows signs of improvement, with growth projected to resume despite ongoing global uncertainties, particularly related to the Middle East conflict. Inflation is expected to gradually ease from recent highs, although risks remain due to external factors.

Canada's GDP growth is estimated to be 2½% in the second quarter of 2026, with signs of broadening economic recovery.
CPI inflation rose to 3.2% in May, primarily driven by higher gasoline prices linked to geopolitical tensions.
The Bank projects global GDP growth to slow to 2¾% in 2026 but recover to around 3¼% in subsequent years.
Financial conditions in Canada have eased, contributing to a depreciation of the Canadian dollar.

Bank Profile

Mandate

Price stability (1-3% CPI, 2% midpoint)

Decision Types

Overnight rate target, Quantitative easing, Forward guidance

Policy Instruments

Target overnight rate, Bank Rate, Settlement balances rate, Bond purchases

Target Indicators

CPI inflation (2%), Core inflation measures (CPI-trim, CPI-median), Output gap

Communication Style

Clear forward guidance, Monetary Policy Report with projections, deliberative approach

Committee

Governing Council - 6 members (Governor, Senior Deputy Governor, 4 Deputy Governors)

Economic Indicators

Policy Rate	2.25%
USD/CAD	1.3909
GDP Growth	1.0%
M2 Growth	8.2%
10Y Yield	3.62%
2y10y Spread	+0.72%

HISTORICAL TRENDS

Policy Rate

FX Rate

CPI

GDP

10Y Yield

2Y-10Y Spread

Stance

Key Commodities

Top traded commodities for Canada

Commodity	Price	1D	30D
WTI Crude Oil	83.90 USD/barrel	-2.8%	+4.3%
Natural Gas (Henry Hub)	2.70 USD/MMBtu	-4.6%	-2.2%

Recent Statements

Bank of Canada maintains the policy rate at 2¼% - Bank of Canada ⚖️ Neutral

2026-06-10

⚡ Rate

↑0 ↓0 →1

📝 Classified Sentences

⚡ Rate Holdmp_interest_rate

"Against this overall backdrop, Governing Council decided to maintain the policy rate at 2.25%."

Bank of Canada maintains policy rate at 2¼% - Bank of Canada ⚖️ Neutral

2026-04-29

⚡ Rate

↑0 ↓0 →1

📝 Classified Sentences

⚡ Rate Holdmp_interest_rate

"Against this backdrop and taking into account the current projection, Governing Council decided to maintain the policy rate at 2.25%."

Bank of Canada maintains policy rate at 2¼% - Bank of Canada ⚖️ Neutral

2026-03-18

⚡ Rate

↑0 ↓0 →1

📝 Classified Sentences

⚡ Rate Holdmp_interest_rate

"Against this overall backdrop, Governing Council decided to maintain the policy rate at 2.25%."

Bank of Canada maintains policy rate at 2¼% - Bank of Canada ⚖️ Neutral

2026-01-28

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