Press Conference: Monetary Policy Report – July 2025
Release of the Monetary Policy Report – Press conference by Governor Tiff Macklem and Senior Deputy Governor Carolyn Rogers (10:30 (ET) approx.).
Monetary Policy Report—July 2025
Tariffs are significantly higher than they were at the start of 2025, and it is extremely difficult to predict how US trade policy will play out. Canadian economic activity has slowed but is showing signs of resilience. While inflation is close to 2%, underlying inflation has picked up.
Bank of Canada holds policy rate at 2¾%
The Bank of Canada today maintained its target for the overnight rate at 2.75%, with the Bank Rate at 3% and the deposit rate at 2.70%.
Monetary Policy Report Press Conference Opening Statement
Governor Tiff Macklem discusses the Monetary Policy Report and the key issues involved in the Governing Council’s deliberations about the monetary policy decision.