Bank of Canada Expected to Keep Key Rate Steady This Week—and Maybe All Year Long

Governor of the Bank of Canada Tiff Macklem participates in a news conference following an interest rate announcement, at the Bank of Canada in Ottawa, on Dec. 10, 2025. The Canadian Press/Justin Tang

Many economists expect no change in the Bank of Canada’s benchmark interest rate later this week—and, possibly, for the rest of the year.

The central bank will make its first interest rate decision of 2026 on Wednesday.