Bank of Canada (BoC): Interest Rate News & Analysis

Central Banks Fundamental Outlook

BankRateChange *Date of changeNext MeetingInflation TargetExpectation
Federal Reserve (FED)0.25%-10015-Mar-2022-Sep-212%4
European Central Bank (ECB)0.00%-510-Mar-169-Sep-213%2
Bank of England (BoE)0.10%-1519-Mar-2023-Sep-212%3
Bank of Canada (BoC)0.25%-5027-Mar-208-Sep-212% +/- 1% 3
Bank of Japan (BoJ)-0.10%-1029-Jan-1622-Sep-212%1
Reserve Bank of Australia (RBA)0.10%-153-Nov-207-Sep-212%-3%1
Reserve Bank of New Zeeland (RBNZ)0.25%-7516-Mar-206-Oct-212% +/- 1%4
Swiss National Bank (SNB)-0.75%-5015-Jan-1523-Sep-21<2%3

* The latest change in the policy rate in basis points


The BoC leaves its Overnight Rate unchanged at 0.25% as expected

The BoC leaves its Overnight Rate unchanged at 0.25% as expected
The BoC leaves its Overnight Rate unchanged at 0.25% as expected, rate of QE unchanged as expected; forward guidance unchanged as expected

  • The Bank continues to expect the economy to strengthen in the second half of 2021, although the fourth wave of COVID-19 infections and ongoing supply bottlenecks could weigh on the recovery.
  • Reiterates "The Governing Council judges that the Canadian economy still has considerable excess capacity"
  • "We will continue to provide the appropriate degree of monetary policy stimulus to support the recovery and achieve the inflation objective."
  • "In Canada, GDP contracted by about 1 percent in the second quarter, weaker than anticipated in the Bank’s July Monetary Policy Report (MPR)."
    Cad Is going in red worst performance from all currencies with -0.29% today

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