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This is an account of the deliberations of the Bank of Canada’s Governing Council leading to the monetary policy decision on July 15, 2026.
The Bank of Canada today published its 2027 schedule for policy interest rate announcements and the release of the quarterly Monetary Policy Report.
The Bank of Canada today held its target for the overnight rate at 2.25%, with the Bank Rate at 2.5% and the deposit rate at 2.20%.
Canada’s economy has been weak but is showing signs of improvement. Growth is expected to pick up, and inflation is projected to ease to around 2%. Uncertainty remains elevated.
Governor Tiff Macklem discusses the Monetary Policy Report and the key issues involved in the Governing Council’s deliberations about the monetary policy decision.
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