Bank of Canada’s Decision

On March 18, 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%.

“The war in the Middle East has increased volatility in global energy prices and financial markets, and heightened the risks to the global economy. The breadth and duration of the conflict, and hence its economic impacts, are highly uncertain,” the central bank said in a news release.

“We will continue to assess the impact of US tariffs and trade policy uncertainty, and how the Canadian economy is adjusting. We are also monitoring the unfolding conflict in the Middle East closely and assessing its impact on growth and inflation.”

Third Consecutive Hold

The decision comes after the BoC kept its key interest rate at 2.25% on Jan. 28, 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 April 29, 2026.

Key Announcement Highlights

• The unemployment rate in Canada rose to 6.7% in February. Employment gains in Q4 2025 were largely reversed in the first 2 months of 2026.
• GDP in Canada contracted 0.6% in Q4 2025, after expanding by 2.4% in the third quarter. This was weaker than expected.
• Domestic demand grew by more than 2% due to strength in consumer and government spending. Housing markets remain weak.
• CPI inflation eased further to 1.8% in February, down...

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