04/29/2026
📊 Bank of Canada Rate Update – April
The Bank of Canada held its overnight rate at 2.25% today.
Inflation has recently ticked up to 2.4%, mainly due to higher gas prices, and may rise closer to 3% in the short term before easing back toward the 2% target next year.
Key highlights:
• Economic growth remains modest, with continued global uncertainty
• Canada’s labour market is soft, with unemployment around 6.5%–7%
• Housing and business investment are still being held back by affordability and uncertainty
• Growth is expected to gradually improve over the next few years
💡 What this means:
The Bank is staying cautious and data-driven. For now, rates are being held steady while they watch how inflation and global events evolve.
If you’re thinking about your mortgage, renewal, or borrowing strategy, it’s a good time to reassess your options.
