The Bank of Canada is releasing its Summary of Governing Council Deliberations today at 13:30 ET, a document that will detail the internal conversations behind the June 10 decision to hold the overnight target rate at 2.25%.
That decision was unanimous. It was also the fifth consecutive meeting where policymakers chose to leave rates unchanged.
What the numbers say
The overnight rate sits at 2.25%. The Bank Rate is at 2.5%, and the deposit rate is at 2.20%.
Inflation is the reason everyone is watching. The BoC’s own data puts inflation at 2.8% in April 2026, pushed up primarily by energy prices. Core inflation, which strips out the more volatile components, came in at 2.1%, sitting just above the 2% target.
