09/02/2026
🏦 Bank of Canada Interest Rate Announcement: September 2, 2026
The Bank of Canada has held its overnight interest rate at 2.25%, keeping rates unchanged once again.
Behind the decision there are multiple factors at play.
Canada’s economy continues to show signs of recovery, with recent data supporting a broadening economic rebound. 🇨🇦 But uncertainty remains high. Ongoing conflict in the Middle East is keeping energy prices elevated, while new U.S. tariffs and Canadian counter-measures are creating additional uncertainty for Canadian economic growth.
Inflation risks have increased. Higher energy costs could put upward pressure on inflation, while tariffs could also affect prices.
For now, the Bank believes the economy and inflation are evolving broadly as expected, so it chose to hold the rate at 2.25% rather than make another move.
What does it mean for your mortgage? 🏡
If you're buying, renewing, or refinancing, today's announcement is another reason not to base your mortgage decision solely on where you think rates are heading.
Your financial situation, timeline, mortgage term, flexibility, and long-term goals all matter.
📞 Thinking about your next mortgage move? Better Call Paul. Let's look at your options and make a plan that works for you.
