Banks › Bank of Canada › History › 10 Jun 2026
Bank of Canada: decision of 10 June 2026
The Bank of Canada held its target for the overnight rate at 2.25%, with the Bank Rate at 2.5% and the deposit rate at 2.20%.
Decision
hold
- Rate
- 2.25%=2.25%
- Change
- 0 bp
- Announced
- 09:45 Toronto time
Sources
- Statement
- bankofcanada.ca/2026/06/fad-press-release-202…
- Summary of deliberations
- bankofcanada.ca/2026/06/summary-of-governing-…
- Press conference
- bankofcanada.ca/multimedia/press-conference-p…
- Recorded
- 10 Jun 2026
- Data
- JSON
What the bank said
The Bank said Canadian GDP edged down 0.1% in the first quarter, weaker than expected in April, and the unemployment rate was 6.6% in May.
It said CPI inflation rose to 2.8% in April because of energy prices, with limited evidence so far of broad pass-through to other prices and core measures down to around 2%.
It said global oil prices were roughly $10 a barrel above its April assumptions and total inflation was expected to hover around 3% in the near term before easing towards 2%.
Guidance. The Bank said it would keep looking through the war's near-term impact on headline inflation without letting higher energy prices become persistent inflation, and stood ready to respond as needed.
“Governing Council is continuing to look through the war’s near-term impact on headline inflation, but will not let higher energy prices become persistent inflation.”
Before and after
- Previous decision: 29 Apr 2026, held the target for the overnight rate at 2.25%.
- Next decision: 15 Jul 2026, held the target for the overnight rate at 2.25%.
- All Bank of Canada decisions and the rate history