Following two consecutive interest rate cuts, the Bank of Canada on Wednesday announced its widely expected decision to leave rates unchanged.
The Bank of Canada said it decided to hold 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 came as the BoC's Governing Council believes the current policy rate is at about the right level to keep inflation close to 2 percent while helping the economy through a period of structural adjustment.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.