Banks › Bank of Canada › History › 2 Sept 2026
Bank of Canada: decision of 2 September 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/2026/09/fad-press-release-202…
- Summary of deliberations
- bankofcanada.ca/2026/09/summary-of-governing-…
- Press conference
- bankofcanada.ca/multimedia/press-conference-p…
- Recorded
- 2 Sept 2026
- Data
- JSON
What the bank said
The Bank said the economy and inflation were evolving broadly as forecast in the July MPR, with GDP up 3.3% in the second quarter and unemployment edging down to 6.4% in July.
It said CPI inflation had hovered around 3% because of persistently higher gasoline prices, while inflation excluding gasoline was 2.2% and core measures were close to 2% in July.
It said upside risks to inflation had increased with the ongoing Middle East conflict and little progress reopening the Strait of Hormuz, while new US tariffs made growth prospects more uncertain.
Guidance. The Bank said Governing Council would assess the sustainability of the economic rebound and the outlook for inflation and was prepared to adjust monetary policy as needed.
“However, the upside risks to inflation have increased, while new tariffs make growth prospects more uncertain.”
Before and after
- Previous decision: 15 Jul 2026, held the target for the overnight rate at 2.25%.
- Next scheduled meeting: (calendar).
- All Bank of Canada decisions and the rate history