April 16, 2025
Bank of Canada holds policy rate at 2¾%
The Bank of Canada today maintained its target for the overnight rate at 2.75%, with the Bank Rate at 3% and the deposit rate at 2.70%.
Key Interest Rate
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April 16, 2025
Monetary Policy Report—April 2025
The Canadian economy ended 2024 in a strong position. However, the trade conflict and tariffs are expected to slow growth and add to price pressures. The outlook is very uncertain because of the unpredictability of US trade policy and the magnitude of its impact on the Canadian economy. -
March 12, 2025
Bank of Canada reduces policy rate by 25 basis points to 2¾%
The Bank of Canada today reduced its target for the overnight rate to 2.75%, with the Bank Rate at 3% and the deposit rate at 2.70%. -
January 29, 2025
Bank of Canada reduces policy rate by 25 basis points to 3%, announces end of quantitative tightening
The Bank of Canada today reduced its target for the overnight rate to 3%, with the Bank Rate at 3.25% and the deposit rate at 2.95%. -
January 29, 2025
Monetary Policy Report—January 2025
Economic growth has ticked up in Canada, boosted by past cuts in interest rates. In the absence of new tariffs, growth is forecast to strengthen, and inflation remains close to 2%. But the threat of new tariffs is causing major uncertainty. -
December 11, 2024
Bank of Canada reduces policy rate by 50 basis points to 3¼%
The Bank of Canada today reduced its target for the overnight rate to 3¼%, with the Bank Rate at 3½% and the deposit rate at 3¼%. -
October 23, 2024
Bank of Canada reduces policy rate by 50 basis points to 3¾%
The Bank of Canada today reduced its target for the overnight rate to 3¾%, with the Bank Rate at 4% and the deposit rate at 3¾%. -
October 23, 2024
Monetary Policy Report—October 2024
Monetary policy has worked to reduce price pressures in the Canadian economy. Inflation is now around 2% and is expected to remain near the middle of the Bank of Canada’s control range of 1% to 3% over the projection. -
September 4, 2024
Bank of Canada reduces policy rate by 25 basis points to 4¼%
The Bank of Canada today reduced its target for the overnight rate to 4¼%, with the Bank Rate at 4½% and the deposit rate at 4¼%. -
July 24, 2024
Bank of Canada reduces policy rate by 25 basis points to 4½%
The Bank of Canada today reduced its target for the overnight rate to 4½%, with the Bank Rate at 4¾% and the deposit rate at 4½%. The Bank is continuing its policy of balance sheet normalization.