The Bank of Canada will announce its interest rate decision on July 30 (the Fed announces on that date too) and all 28 economists surveyed expect that the the central bank will keep rates steady at 2.75% at that meeting..
The poll also projects that the Bank of Canada will cut the overnight rate to 2.25% or lower by the end of 2025. That is according to 17 of the 28 economists.
The most recent policy decision on June 4, 2025 maintained the rate at 2.75 percent, following a 25 basis‑point cut on March 12, 2025, which brought the rate down from 3.00% to 2.75%. The central bank cited a softening economy, persistent inflation pressures, and trade‑related uncertainty—particularly from U.S. tariffs—as reasons to hold steady for now.
