BOC · Tiff Macklem
Bank of Canada
Overnight Target Rate · Snapshot 30 Apr 2026, 06:22 am UTC
Next Decision
40d
Next Meeting Pricing
6.0% HIKE
Current Rate
2.25%
12-Month Outlook
+85 bp
PATH OF BOC OVERNIGHT TARGET RATE OVERNIGHT CALL RATE: MARKET EXPECTATION
| Meeting▲ | Implied | P(Hike) | P(Hold) | P(Cut) | Cum Moves | Δ bp |
|---|---|---|---|---|---|---|
| 10 June 2026 | 2.265% | 6.0% | 94.0% | 0.0% | 0.06 | +1.5 |
| 15 July 2026 | 2.330% | 26.0% | 74.0% | 0.0% | 0.32 | +8.0 |
| 02 Sept 2026 | 2.722% | 100.0% | 0.0% | 0.0% | 1.89 | +47.2 |
| 28 Oct 2026 | 2.960% | 95.0% | 5.0% | 0.0% | 2.84 | +71.0 |
| 09 Dec 2026 | 3.021% | 24.3% | 75.7% | 0.0% | 3.08 | +77.1 |
| 20 Jan 2027 | 3.044% | 9.3% | 90.6% | 0.0% | 3.18 | +79.4 |
| 03 Mar 2027 | 3.072% | 11.3% | 88.7% | 0.0% | 3.29 | +82.2 |
| 14 Apr 2027 | 3.096% | 9.5% | 90.5% | 0.0% | 3.38 | +84.6 |