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November 5, 2025
Opening Statement before the House of Commons Standing Committee on Finance
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Opening statements
October 29, 2025
Bank of Canada lowers policy rate to 2¼%
The Bank of Canada today reduced its target for the overnight rate by 25 basis points to 2.25%, with the Bank Rate at 2.5% and the deposit rate at 2.20%.
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Press,
Press releases
October 29, 2025
Monetary Policy Report—October 2025
Canada’s economy is adjusting to tariffs and the sharp drop in demand for exports. The reconfiguration of global trade and domestic production is leading to higher costs. Total inflation has been around 2%, while underlying inflation remains about 2½%.
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Publications,
Monetary Policy Report
October 29, 2025
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.
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Press,
Speeches and appearances,
Opening statements