Posts

• July 15, 2026

  Monetary Policy Report—July 2026—Canadian economy—Tariff and other assumptions

  Trade within North America remains mostly free of tariffs, but some industries have been heavily affected by sector-specific measures. Oil prices are assumed to decline.
• July 15, 2026

  Monetary Policy Report—July 2026—Canadian economy—Outlook

  Economic growth is expected to pick up over the projection horizon, rising above potential output growth. Inflation is elevated in the near term before returning to target as cost pressures fade and excess capacity is absorbed.
• July 15, 2026

  Monetary Policy Report—July 2026—Canadian economy—Current conditions

  Economic growth in Canada has been weak but is set to pick up. Headline inflation has risen above 3%. If oil prices and gasoline refinery margins decline as assumed, inflation should ease in the coming months. Inflation excluding gasoline remains near 2%.
• July 15, 2026

  Monetary Policy Report—July 2026—Overview

  After a year of weakness, Canada’s economy is showing signs of improvement. Growth is expected to pick up, and inflation eases gradually from its recent peak. Uncertainty is still high.
• July 15, 2026

  Monetary Policy Report—July 2026—Global economy

  The war in the Middle East has pushed up inflation around the world and is weighing on global economic activity. But oil prices have fallen from their peak, and inflation is expected to ease. Investment in AI is boosting global growth.
• July 15, 2026

  Monetary Policy Report—July 2026—Projections

  The outlook for Canadian growth is broadly unchanged. After a weaker-than-expected start to 2026, GDP growth is projected to be slightly stronger in 2027 and 2028. Although near-term inflation has been a bit higher than anticipated, the outlook for inflation is little changed.
• July 15, 2026

  Monetary Policy Report—July 2026—Risks

  The evolution of Canada’s trade relationship with the United States and the war in the Middle East remain the two most important risks to the outlook for inflation.
• July 15, 2026

  Monetary Policy Report—July 2026—In focus—War‑related supply disruptions are passing through to consumer prices

  The conflict in the Middle East has generated both direct and indirect cost pressures that continue to feed through supply chains. These cost pressures are material for the inflation outlook.
• July 15, 2026

  Bank of Canada interest rate announcement  and release of the Monetary Policy Report 

  On Wednesday, July 15, 2026, the Bank of Canada will announce its decision on the target for the overnight rate. A press release will provide a brief explanation of the decision. The Bank will also publish its quarterly Monetary Policy Report (MPR) at the same time as the rate decision. 

  Content Type(s): Press, Media advisories
• July 15, 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