Governing Council decided to hold the policy rate at 5% for a sixth consecutive time since July and to continue to normalize the Bank’s balance sheet.
The Bank remains resolute in its commitment to restoring price stability for Canadians. While inflation is still too high and risks remain, CPI and core inflation have eased further in recent months. The Council will be looking for evidence that this downward momentum is sustained.
|
Bank of Canada |
Royal Bank of Canada Prime Rate |
| 5.00% unchanged |
7.20% unchanged |
Effective since July 13, 2023
- Consult the press release issued by the Bank of Canada.
- The next Bank of Canada announcement will be on June 5, 2024.
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