Bank of Canada Holds Key Rate Steady
Nov 2025
Summary
The Bank of Canada left its policy rate unchanged as core inflation continues to ease. Policymakers remain data-dependent, weighing persistent shelter costs against moderating demand.
Key Takeaways
- Policy rate held; guidance remains data-dependent.
- Shelter inflation and wage growth remain key watch items.
- Markets focus on mortgage renewal waves and consumption effects.
The BoC opted to hold, citing gradual improvement in underlying inflation. Officials noted uneven progress across categories, with shelter still elevated.
Economic slack, immigration-driven population growth, and credit conditions will influence the near-term path.
Attention turns to upcoming CPI prints and labour data for timing of any future moves.
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