Key Interest Rate

• April 10, 2024

  Bank of Canada maintains policy rate, continues quantitative tightening

  Media Relations Ottawa, Ontario

  The Bank of Canada today held its target for the overnight rate at 5%, with the Bank Rate at 5¼% and the deposit rate at 5%.

  Content Type(s): Press, Press releases
• April 10, 2024

  Monetary Policy Report – April 2024

  

  Monetary policy is working to reduce inflationary pressures and inflation is coming down, although it will take more time to see if this progress proves durable. The Bank projects that inflation will stay around 3% into the second quarter of 2024, ease below 2.5% in the second half of the year and return to target in 2025.

  Content Type(s): Publications, Monetary Policy Report