Canadian Mortgage Professionals ~ April 29th, 2026
The Bank of Canada has left interest rates unchanged in its third decision of the year, holding steady yet again amid conflicting signs on the inflation and economic outlooks.
The central bank said on Wednesday morning it was keeping its policy rate at 2.25% for the fourth time in a row, an unsurprising decision that means variable mortgage and home equity line of credit (HELOC) rates will stay where they are.
The Bank cut interest rates four times in 2025, bringing its benchmark rate a full percentage point lower. But after hitting pause on rate reductions in its December decision, it’s maintained a wait-and-see approach throughout this year as the US-Iran war continues to stoke inflationary fears and concerns about a potential sharp hit to the Canadian economy.
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