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Canada announcement

Canada Central Bank Policy Rate 2026-04-29 05:47 America/Toronto: data, chart, and analysis

The 2026-04-01 Central Bank Policy Rate release printed 2.25. The previous reading was 2.25, while the forecast field is 2.2. Traders usually read this release against the recent trend, the Bank of Canada policy bias, and the surprise versus consensus.

Back to Central Bank Policy Rate API reference
Actual
2.25
Previous
2.25
Forecast
2.2

FXMacroData Blended Forecast

Public release ID
cad_policy_rate_2026-04-29

Canada Central Bank Policy Rate release chart

Market context, recent readings, and scenario notes for this announcement.

Canada Central Bank Policy Rate chart through 2026-04-01
CAD Central Bank Policy Rate readings through 2026-04-01. Latest: 2.25.
Indicator
Bank of Canada Overnight Rate
Released
April 29, 2026 09:47 UTC
Actual Value
2.25 %
Prior
2.25 %
Change
0.00 %

The Bank of Canada (BoC) announced its latest monetary policy decision on April 29, 2026, confirming that the benchmark Bank of Canada Overnight Rate would remain unchanged. The central bank held the rate steady at 2.25%, a move widely anticipated by market participants and consistent with recent policy trends. This decision comes as global economic conditions continue to evolve, with central banks carefully balancing inflation targets against growth imperatives.

For FX traders, macro analysts, and portfolio managers, the BoC's Overnight Rate is a critical barometer for the health of the Canadian economy and a key driver of Canadian Dollar (CAD) valuation. A stable rate environment, as evidenced by this latest announcement, provides a degree of certainty in a volatile market, but also prompts deeper analysis into the BoC's forward guidance and the underlying economic factors influencing its patient approach. Understanding the nuances of this decision is crucial for navigating CAD pairs and anticipating future policy shifts.

Recent Readings

What Bank of Canada Overnight Rate Measures

The Bank of Canada Overnight Rate is the target for the overnight rate, which is the interest rate at which major financial institutions borrow and lend funds to each other for one-day terms. It is the BoC's primary monetary policy tool, influencing other short-term interest rates and, consequently, lending rates for consumers and businesses throughout Canada. The Bank of Canada (BoC) itself sets and announces this rate approximately eight times per year, following its scheduled policy meetings.

Traders and analysts closely monitor the Overnight Rate because it reflects the central bank's stance on inflation and economic growth. A higher rate typically indicates the BoC is trying to curb inflation by making borrowing more expensive, while a lower rate aims to stimulate economic activity. Changes in this rate directly impact the attractiveness of holding Canadian dollar assets, making it a fundamental input for foreign exchange (FX) market participants. It also provides insights into the BoC's assessment of the current economic climate and its outlook.

Breaking Down the April 2026 Numbers

In its April 2026 announcement, the Bank of Canada maintained its Overnight Rate at 2.25%. This decision represents no change from the prior reading, which also stood at 2.25%. The resulting change of +0.00% signals a continuation of the BoC's stable monetary policy stance observed over recent months.

Looking at the historical context, the Overnight Rate has consistently held at this level. Data points show the rate at 2.25% on March 1, 2026, and again on March 18, 2026. This trend of stability continued into April, with the rate at 2.25% on April 1, 2026, culminating in the latest April 29, 2026, announcement confirming the unchanged rate. This sustained period at 2.25% underscores the central bank's commitment to its current policy path, suggesting that economic conditions are largely aligning with the BoC's expectations and do not warrant an immediate adjustment to borrowing costs.

Impact on CAD and FX Markets

A decision by the Bank of Canada to maintain its Overnight Rate at 2.25% typically results in a measured response in the Canadian Dollar (CAD). Given that this outcome was largely anticipated, the immediate market reaction tends to be subdued, as the news is already priced in. However, the stability of the rate can reinforce existing market sentiment towards the CAD, especially against currencies whose central banks are signaling divergent policy paths.

For FX traders, this specific reading suggests that the interest rate differential between the CAD and other major currencies remains unchanged, thus not providing a new impetus for significant CAD appreciation or depreciation based solely on this announcement. CAD pairs such as USD/CAD, EUR/CAD, and GBP/CAD are most sensitive to BoC policy decisions. In a 'hold' scenario, traders often turn their attention to the accompanying monetary policy statement for any subtle shifts in language or forward guidance that might hint at future policy moves. A stable rate environment can sometimes lead to range-bound trading for CAD pairs until new economic data or central bank commentary provides a fresh catalyst.

Monetary Policy Implications

The Bank of Canada's decision to hold the Overnight Rate at 2.25% in April 2026 strongly indicates a continuation of its current accommodative, yet patient, monetary policy stance. This stability suggests that the BoC believes the Canadian economy is performing broadly in line with its projections, with inflation likely trending towards its target range without requiring immediate intervention.

Recent communications from the BoC would likely have emphasized a data-dependent approach, carefully monitoring key economic indicators such as inflation, employment, and GDP growth. By maintaining the rate, the central bank signals that these indicators, while perhaps showing some fluctuations, do not yet warrant either a tightening (rate hike) or an easing (rate cut) of policy. This supports a 'holding' pattern, allowing previous policy adjustments to fully transmit through the economy and providing flexibility to respond to future data. It reinforces the central bank's commitment to achieving its inflation target sustainably while supporting economic stability.

Looking Ahead

The Bank of Canada's decision to keep the Overnight Rate at 2.25% sets the stage for future policy discussions. With no immediate change, market participants will now keenly focus on the economic data releases leading up to the next scheduled BoC meeting. Structural trends to watch include the trajectory of global inflation, commodity prices (especially oil, given Canada's resource-rich economy), and the strength of the Canadian labor market.

Key upcoming releases that could compound or alter the signal from this stable rate include the next Canadian Consumer Price Index (CPI) report, Gross Domestic Product (GDP) figures, and the monthly employment survey. Any significant deviation in these indicators from the BoC's projections could prompt a reassessment of its 'hold' stance. Traders and analysts will also pay close attention to speeches and public appearances by BoC officials for any forward guidance or shifts in rhetoric that might foreshadow future policy adjustments beyond the current stability observed since March 2026 and through the April 29th announcement.

Track This Release

Access the full Bank of Canada Overnight Rate time series for CAD via the FXMacroData API:

curl "https://api.fxmacrodata.com/v1/announcements/cad/policy_rate?api_key=YOUR_API_KEY"

See the Bank of Canada Overnight Rate indicator page for full details, API examples, and release history, or explore the live dashboard.

Central Bank Policy Rate release read

The 2026-04-01 Central Bank Policy Rate release printed 2.25. The previous reading was 2.25, while the forecast field is 2.2. Traders usually read this release against the recent trend, the Bank of Canada policy bias, and the surprise versus consensus.

The forecast marker for this release is 2.2 from FXMacroData Blended Forecast. Compare it with the actual value to assess the direction and size of the surprise.

The parent Central Bank Policy Rate page shows the full time series for Canada. This release page keeps the realised value, prior value, forecast, reference period, and publication time together for the individual announcement.

For CAD event-risk work, the important read is whether this print changes the recent trend or simply extends it. Compare the actual value with the previous and forecast fields above, then use the raw JSON below for backtests keyed to the stable announcement ID.

Release data snapshot

The values below are the citation fields for this announcement.

Public release ID cad_policy_rate_2026-04-29
API announcement ID cad_policy_rate_2026-04-01
Release time
2026-04-29 09:47 UTC
Reference period date 2026-04-01
Actual value 2.25
Previous value 2.25
Forecast 2.2 FXMacroData Blended Forecast
Surprise +0.05
Announcement timestamp 1777456051

API data for this announcement

The API endpoint returns the full Canada Central Bank Policy Rate history. Clients can filter by date or match this row by announcement_id.

Forecasts live in the predictions endpoint and use the same announcement identifier where available. That is the preferred join key for realised values, forecast surprises, and release-event backtests.

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More Canada Central Bank Policy Rate releases

Move through adjacent announcement records for the same series.

Newer release

2026-04-29 05:47 America/Toronto · 2.25

Older release

2026-03-18 05:47 America/Toronto · 2.25

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Risk Free Rate

Overnight lending rate between banks.
Raw announcement payload

Field names are preserved for traceability and downstream testing.

{
  "announcement_datetime": 1777456051,
  "announcement_datetime_local": "2026-04-29T05:47:31-04:00",
  "announcement_id": "cad_policy_rate_2026-04-01",
  "change_from_previous": 0.0,
  "collected_at_iso": "2026-06-28T04:37:16.693528Z",
  "collected_at_ns": 1782621436693528443,
  "date": "2026-04-01",
  "forecast": 2.2,
  "forecast_source_label": "FXMacroData Blended Forecast",
  "ingestion_latency_ms": 5165385693.528,
  "ingestion_latency_reference": "official_actual_release_datetime",
  "observation_id": "cad_policy_rate_canonical_level_default_standard_period_2026-04-01",
  "official_actual_release_datetime": 1777456051,
  "official_actual_release_datetime_local": "2026-04-29T05:47:31-04:00",
  "pct_change_from_previous": 0.0,
  "prediction_type": "fxmacrodata",
  "previous_announcement_datetime": 1773827243,
  "previous_date": "2026-03-18",
  "previous_value": 2.25,
  "revisions": [
    {
      "epoch": 1777456051,
      "val": 2.25
    }
  ],
  "val": 2.25
}