Regulatory Alerts2026-04-29
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Summary of Governing Council deliberations: Fixed announcement date of April 29, 2026
The Bank of Canada Governing Council decided to maintain the policy interest rate at 2.25% on April 29, 2026. This decision reflects an assessment that the current degree of policy support is appropriate given moderate expected economic growth and inflation projected to peak near 3% before returning to the 2% target. The Council agreed to look through the initial inflation shock from higher gasoline prices, noting that slack in the labour market and excess supply limit the pass-through of energy costs. The Bank anticipates that changes to the policy interest rate will likely be small in the base case, though it remains prepared to adjust rates in response to evolving risks from US trade policy or persistent oil price increases.
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