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Step chart tracking the Bank of Canada overnight policy rate from 5 percent down to 2.25 percent since early 2024.

The Bank of Canada is expected to hold its policy rate at 2.25% for a seventh straight decision, based on all 35 economists in a Reuters poll and bond markets pricing just a 3% chance of a hike. July's headline inflation rose to 3.0% year over year, above the Bank's target range, even as an escalating Canada-U.S. trade war argues for cuts to support growth. National Bank and Scotiabank are outliers, forecasting hikes to 2.50% in October and 2.75% by year-end.

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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