In its April 12 announcement, 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. You may also consult the latest Monetary Policy Report.
- The next Bank of Canada announcement will be on June 7, 2023.
Relieving price pressures
Governing Council continues to assess whether monetary policy is sufficiently restrictive to relieve price pressures and remains prepared to raise the policy rate further if needed to return inflation to the 2% target.
Be sure to head over to ia.ca/economy and sign up for our weekly newsletter. In his April 14 video, Sébastien Mc Mahon, our Chief Strategist and Senior Economist, will discuss this latest decision and its impacts on the economy.
