The Bank of Canada — Canada's equivalent of the U.S. Federal Reserve — announced on September 2, 2026 that it would be keeping the county's interest rates the same, holding its targets at 2.25% for the overnight rate, 2.20% for the deposit rate, and 2.5% for the Bank Rate. The decision amounts to a wait and see approach while the country weathers global uncertainty surrounding its neighbor to the south, and it comes with a warning that Americans should be paying attention to. As Bank of Canada Governor Tiff Macklem said in a press conference on the matter, "The added uncertainty about the future of Canada-US trade relations may lead businesses more broadly to delay investment and hiring decisions.
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