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%.
We are Canada’s central bank. We work to preserve the value of money by keeping inflation low and stable.
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News
March 12, 2025
How Canadian businesses and households are reacting to the trade conflict
To better understand how the trade conflict initiated by the US administration is affecting the economic decisions of Canadians, the Bank of Canada has enhanced its consultations with businesses and households.
Content Type(s):
Publications
March 12, 2025
Monetary Policy Decision Press Conference Opening Statement
Governor Tiff Macklem discusses key issues involved in the Governing Council’s deliberations about the monetary policy decision.
Content Type(s):
Press,
Speeches and appearances,
Opening statements
February 21, 2025
Tariffs, structural change and monetary policy
Governor Tiff Macklem discusses the potential impact of a trade conflict with the United States. He also launches the review of the Bank’s monetary policy framework.
Upcoming events
- March 20, 2025 Speech: Tiff Macklem, Governor
- March 26, 2025 Publication: Summary of Deliberations
- April 7, 2025 Release: Business Outlook Survey and Canadian Survey of Consumer Expectations
Canadian dollar