Bank of Canada interest rate decisions
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The Bank of Canada has held its benchmark interest rate at 2.25% for the past three decisions amidst rising energy prices due to the conflict between the US, Israel, and Iran. The bank is expected to remain on hold through 2026, but is ready to respond if the energy shock affects broader inflation.
The Bank of Canada's benchmark interest rate is 2.25%. The bank has held rates steady for three decisions amidst a sharp rise in energy prices due to the conflict between the US, Israel, and Iran, which has impacted global oil supplies. Governor Tiff Macklem stated that the bank will monitor the immediate spike in inflation caused by higher gasoline prices but is ready to respond if necessary. The policy rate is at the lower end of the bank's 'neutral range'. The bank expects to remain on hold for some time but isn't ruling out future rate moves. The next interest rate announcement is on April 29, 2026. Annual CPI inflation was 1.8% in February.
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