Annual Report 2025
The Bank of Canada cut its policy interest rate four times in 2025, totalling 100 basis points, to support the economy and keep inflation close to the 2% target. Canada avoided a recession but was impacted by the US trade war and tariffs.
The Bank of Canada celebrated its 90th anniversary in 2025. The Canadian economy started the year on solid footing, with inflation near 2% and growing economic activity. However, US tariffs and uncertainty around US trade policy tested the economy's resilience. The Bank cut its policy interest rate four times, totalling 100 basis points, to support the economy. Inflation remained around 2% throughout the year, and Canada avoided a recession. The Bank also expanded its regulatory work in the payments ecosystem and began preparations for the 2026 renewal of the monetary policy framework with the federal government.
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