Bank of Canada holds policy rate at 2.25% in September decision

The Bank of Canada left its overnight policy rate at 2.25% on September 2, saying the economy was broadly following its July outlook while inflation risks had increased.

The Bank Rate remained 2.5% and the deposit rate 2.20%.

In its statement, the central bank pointed to persistently high energy prices and newly announced trade measures as sources of uncertainty. It said these could raise business costs and eventually affect consumer prices.

The bank also described a broader economic recovery, while cautioning that the sustainability of that recovery remained uncertain.

For readers following borrowing conditions, the key development is the unchanged policy rate. The statement does not promise a cut or increase at the next meeting, and a policy-rate decision is not a quoted rate on an individual loan.

The next scheduled announcement is October 28, when the bank also plans to publish its next Monetary Policy Report.

Source: Bank of Canada — 2026-09-02.