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  • April 29, 2026

    Monetary Policy Report—April 2026—In focus—

    The war in the Middle East is affecting the Canadian economy in several ways. Inflation will be higher in the near term, but the magnitude and persistence of the increase is uncertain. The net impact on growth is expected to be small.
  • April 29, 2026

    Monetary Policy Report—April 2026—In focus—

    Sector-specific trade restrictions are adversely affecting the Canadian economy. Steel and lumber exports have declined significantly, while others have held up better in comparison. Overall, declines in exports have been less severe than expected, reflecting both business adaptability and government policy actions.
  • April 29, 2026

    Interest Rate Announcement and Monetary Policy Report

    09:45 (ET)
    On eight scheduled dates each year, the Bank of Canada announces the setting for the overnight rate target in a press release explaining the factors behind the decision. Four times a year, Governing Council presents the Monetary Policy Report: the Bank’s base-case projection for inflation and growth in the Canadian economy, and its assessment of risks.

    Content Type(s): Upcoming events
  • April 29, 2026

    Monetary Policy Report—April 2026—Risks

    The risks around inflation are unusually high. The main risk is associated with trade relations with the United States. The war in the Middle East presents a new risk.
  • April 29, 2026

    Monetary Policy Report—April 2026—Canadian economy—Outlook

    The Canadian economy continues to adjust to US tariffs and trade uncertainty, with economic activity on a lower path than before tariffs were imposed. The war in the Middle East is also affecting the outlook. Inflation is projected to rise in the near term before easing toward 2% in early 2027, while economic growth remains modest.
  • April 29, 2026

    Monetary Policy Report—April 2026—Projections

    The outlook for Canadian economic growth in 2026 and 2027 is evolving generally as anticipated. Inflation is expected to increase in 2026 due to higher gasoline prices caused by the war in the Middle East. It will then ease in 2027 as oil prices are assumed to moderate.
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