The Canadian Index

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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. Second-quarter GDP grew at a 2.5% annualized pace, yet the Bank cut its full-year 2026 growth forecast to 0.7% from 1.2%, implying a sharp expected slowdown in the second half. Governor Macklem has tied the next move explicitly to oil prices, a condition markets are currently pricing in only lightly.

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 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,…

The Bank of Canada Has Held Seven Times, and Its Inflation Cushion Is Nearly Gone

September 3, 2026

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Line chart comparing WTI crude oil prices to the Bank of Canada's 70 to 75 dollar forecast assumption band.

The Bank of Canada's July 15 Monetary Policy Report projected inflation returning to 2% by early 2027, built on oil settling between $70 and $75 a barrel.

The Bank of Canada's Path Back to 2% Assumed Oil at $70 to $75. It's Trading Near $84.

July 20, 2026

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Line chart showing WTI crude oil jumping 16.4 percent since its July 6 low after the Hormuz blockade resumed.

WTI reversed three weeks of decline in just two trading sessions after the US reinstated its naval blockade of Iranian ports on July 13.

Two Central Banks Report to the Public This Morning, and They Are Reading the Same Oil Shock Differently

July 15, 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 of WTI crude oil futures sliding for six straight sessions after a September 10, 2026 peak.

WTI crude closed lower for a sixth straight session on September 22, 2026, after peaking on September 10, as diplomatic signals from the UN…

WTI Crude Falls for Six Straight Sessions on Hormuz De-escalation Hopes

September 22, 2026

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Line chart of copper futures rising for seven straight sessions through September 22, 2026.

Copper futures rose for a seventh straight session on September 22, 2026, supported by warnings that global mined output could fall this…

Copper Extends a Seven-Session Rally on Supply Deficit Warnings

September 22, 2026

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