Financial News: Bank Of Canada Leaves Interest Rates Unchanged For

Bank Of Canada Leaves Interest Rates Unchanged For Second Straight Meeting

01/28/2026 - 10:03:00 (RTTNews)

(RTTNews) - In a widely expected move, the Bank of Canada on Wednesday announced that it has decided to leave interest rates unchanged for the second straight meeting.

The Bank of Canada said it decided to maintain its target for the overnight rate at 2.25 percent, with the Bank Rate at 2.5 percent and the deposit rate at 2.20 percent.

The decision to leave rates unchanged comes as the Canadian central bank said its Governing Council determined the current policy rate remains appropriate, conditional on the economy evolving broadly in line with its outlook.

However, the BoC noted uncertainty is heightened and stressed they are prepared to respond if the outlook changes.

The BoC reiterated it remains committed to ensuring that Canadians continue to have confidence in price stability through this period of global upheaval.

With regard to economic outlook, the BoC said growth is projected to be modest in the near term as population growth slows and Canada adjusts to U.S. protectionism.

The bank projects growth of 1.1 percent in 2026 and 1.5 percent in 2027, broadly in line with its October projections.

"A key source of uncertainty is the upcoming review of the Canada-US-Mexico Agreement," the Canadian central bank said.

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