The Bank of Canada held its policy interest rate at 4.50%.
|
Bank of Canada |
Royal Bank of Canada Prime Rate |
| 4.50% (no change) |
6.70% (no change) |
Effective since January 26, 2023
- Consult the press release issued by the Bank of Canada.
- The next Bank of Canada announcement will be on April 12, 2023.
A predicted rate hold?
At its January decision, the Governing Council indicated that it expected to hold the policy interest rate at its current level, conditional on economic developments evolving broadly in line with the Monetary Policy Report (MPR) outlook. Based on its assessment of recent data, Governing Council decided to maintain the policy rate.
Be sure to head over to ia.ca/economy and sign up for our weekly newsletter. In his March 17th video, Sébastien Mc Mahon, our Chief Strategist and Senior Economist, will discuss this latest decision and its impacts on the economy.
