Bank of Canada’s Decision

On July 15, 2026, the Bank of Canada (BoC) held its key interest rate at 2.25%.

The Bank Rate remains at 2.5%, while the deposit rate is 2.2%.

“Governing Council judges the current policy rate remains appropriate to sustain the economic recovery and bring inflation back to the 2% target, in line with the MPR projections,” the central bank said in a news release.

“Uncertainty is still high. Governing Council will continue to assess the strength of the Canadian economy and the outlook for inflation, and is prepared to adjust monetary policy as needed.”

Sixth Consecutive Hold

The decision comes after the BoC kept its key interest rate at 2.25% on June 10, 2026.

For a complete list of interest rate changes and detailed insights, visit our full rate change list.

Next Rate Announcement

The next interest rate announcement from the Bank of Canada is scheduled for Sept. 2, 2026.

Key Announcement Highlights

• Canada’s GDP data over the past year was “choppy.” Growth stalled as the economy adjusted to new US tariffs, high uncertainty, and slower population growth.
• The BoC expects GDP growth of 0.7% in 2026. The economy is currently projected to increase by 1.8% in both 2027 and 2028.
• CPI inflation rose to 3.2% in May — mainly because of higher gasoline prices linked to the war in the Middle East. Excluding gasoline, inflation was 2.2% and measures of core inflation remained close to 2%.
• Business investment is projected to pick up modestly in 2026, boosted...

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