The Canadian Index

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Line chart showing Canadian inflation nearing the Bank of Canada's policy rate as the rate-inflation gap narrows.

The Bank of Canada held its overnight rate at 2.25% on September 2, the seventh consecutive decision at that level since an October 29, 2025 cut, even as inflation has climbed since bottoming at 1.8% in February. The Bank has warned that tariffs and elevated oil prices tied to the Iran conflict could push inflation higher still, a shift that could force a hike rather than the cut markets had priced in earlier this year.

This chart is presented for general informational purposes only and does not constitute financial, investment, tax, or legal advice. Figures reflect the source and period indicated and may no longer be current.

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Line chart tracking the Bank of Canada's policy rate holding at 2.25% through its seventh straight decision.

The Bank of Canada is widely expected to hold its policy rate at 2.25% today, a seventh straight hold.

Bank of Canada Holds at 2.25% for a Seventh Straight Decision

September 2, 2026

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Step chart of the Bank of Canada overnight rate target, March 2025 to September 2026, holding at 2.25% for seven decisions.

The Bank has paused because the core measures it prioritizes, which strip out volatile items such as gasoline and travel, sit close to its…

Bank of Canada Holds Its Rate for a Seventh Straight Decision

September 28, 2026

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Line chart showing the Government of Canada five-year bond yield climbing through August and September.

Canadian headline inflation held at 3.0 percent year over year in August, matching July, but the underlying number worsened: inflation…

The Bond Market Already Moved Before the Bank of Canada Has To

September 21, 2026

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Step chart of the Bank of Canada's overnight rate from September 2024 to September 2026, showing seven consecutive holds at 2.25 percent.

The Bank of Canada held its overnight rate for a seventh straight decision on September 2, the longest stretch without a move since the current cutting cycle began.

The Bank of Canada Has Held for Seven Straight Decisions, and Inflation Just Made the Eighth Harder

September 8, 2026

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Line chart of Canada's year-over-year CPI from January to July 2026, rising to 3.0 percent in July against the Bank of Canada's 2 percent target.

Canada's headline CPI rose 3.0% year over year in July, tracking a Hormuz-driven gasoline-price spike that pushed inflation to a war-era peak in May before easing.

The Bank of Canada Meets Wednesday With Growth Ahead of Forecast and the Gasoline Channel Reopened

August 31, 2026

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Line chart showing Canada's monthly CPI inflation rate rising to 3.0 percent in July 2026 from 2.8 percent in June.

Canadian inflation climbed to 3.0 per cent in July from 2.8 per cent in June, moving further above the Bank of Canada's 2 per cent target.

Canada's Inflation Rate Climbs to 3.0% Ahead of the Bank of Canada's September Decision

August 28, 2026

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