09/02/2026
📣On Sep 2, 2026, Bank of Canada holds policy rate at 2.25% on the Sixth Announcement of 2026 Canada Policy Interest Rate
The Bank noted that global economic growth remains resilient despite geopolitical challenges, but higher energy prices, new U.S. tariffs, and Canadian counter-measures are creating significant uncertainty. Financial conditions have also tightened, with long-term bond yields rising globally.
Canada’s economy showed a stronger-than-expected rebound in Q2, with GDP growing 3.3% after weak growth in Q1. The recovery was broad-based, supported by stronger consumer spending, housing activity, exports, and business investment. Labour market conditions have also improved, with the unemployment rate falling to 6.4% in July, although demand for workers remains relatively weak and the economy continues to have excess capacity.
Overall, the Bank sees signs of a broadening Canadian economic recovery, but remains cautious due to elevated uncertainty. In particular, U.S. tariffs and the possibility of further trade measures could threaten the sustainability of the recovery, while higher energy prices continue to put pressure on inflation.
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