Bank Of Canada Interest Rate Forecast September 2023

Bank of Canada Set to Announce Interest Rate Decision

Policymakers to Weigh Economic Data and Inflation

Press Release and Explanations to Follow

The Bank of Canada (BoC) will announce its decision on the target for the overnight rate on Wednesday, September 6, 2023. A press release will provide a brief explanation of the decision.

Policymakers led by Governor Tiff Macklem have reiterated their willingness to hike interest rates again if needed to bring inflation back to the Bank's target of 2%.

The BoC is expected to hold its key interest rate steady at 5.00% on September 6 and keep it at that level through at least the end of March 2024, according to a recent survey of economists.

The interest rate announcement is scheduled for 10:00 AM ET on Wednesday, September 6. Find interest rates along with supporting data and background information here.