What to expect from the April Bank of Canada interest rate update
The Bank of Canada is set to announce its next interest rate update on April 29, with experts predicting a rate hold due to recent inflation numbers and global economic uncertainty. Canada's inflation rate increased by 2.4% year over year in March, driven by higher energy prices amid the Middle East conflict.
The Bank of Canada will announce its next interest rate update on April 29. In March, the central bank held its key interest rate at 2.25%, citing uncertainty around the global economy due to the Middle East conflict. Canada's inflation rate rose to 2.4% in March, driven by higher energy prices. Experts predict the Bank of Canada will hold the interest rate, as the conflict's impact on inflation is still uncertain. The Bank of Canada has maintained the rate since October 2025. If the conflict persists, the Bank may consider hiking rates to combat rising inflation.
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