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Bank of Canada Interest Rate Decision, December 2025

The Bank of Canada held the overnight rate target at 2.25% on December 10, 2025, as expected.

Decision2.25%■ hold
Against expectedAs expectedexpected 2.25%
Previous2.25%overnight rate target
USD/CAD one hour later +5.5 pips from the last price before
The result

What the BoC decided in December 2025

The move Hold Held at 2.25%.
Against expected No surprise Economists expected: hold at 2.25%. The decision was as expected.
Timing 9:45 AM EST Wednesday, December 10, 2025; press conference at 10:30 AM EST.
What price did

USD/CAD after the BoC decision, minute by minute

One-minute candles, Ottawa time. The box is the hour before the announcement. How we measure.

USD/CAD one-minute chart around the Bank of Canada decision of Dec 10, 2025 The hour before the 09:45 announcement ranged 16 pips. The first spike went above it by 17 pips, and did not close back inside within the hour. 1.384 1.385 1.386 1.387 09:00 09:30 10:00 10:30 11:00 11:30 THE HOUR BEFORE BoC 09:45 PRESS CONF. Spike 1.38715 · 17 pips past the hour's high
  1. The hour beforeUSD/CAD ranged 16 pips, from 1.38381 to 1.38546, and was at 1.38525 at the announcement.
  2. The first spike After 0 minutes price went through the hour's high and ran 17 pips past it.
  3. The close back No five-minute candle closed back inside the range within the hour: the first move held.
  4. The other side Not measured: it needs a close back first.
  5. The moves From the last price before the announcement: +9.5 pips at 15 minutes, +5.5 pips at one hour, −17 pips at four hours.
For context

Across 15 measured BoC decisions since January 2025, the first spike closed back inside the hour-before range within 60 minutes in 12 (80%), and in 6 of those price then took the other side within four hours. In the other 3 the first move held. Median move in the first 15 minutes: 12 pips.

This decision is one where the first move held. Counts include the decisions where it did not close back. All BoC dates · BoC overview.

← Previous decisionBoC, October 2025Cut 25 bp to 2.25% Next decision →BoC, January 2026Wed, Jan 28, 9:45 AM EST
Questions

BoC December 2025 decision: questions

What time was the BoC interest rate decision on Dec 10, 2025?

It was announced at 9:45 AM EST (9:45 AM EST New York, 2:45 PM London London), with the press conference at 10:30 AM EST.

What did the BoC decide in December 2025?

Held at 2.25% (previous 2.25%). Economists expected: hold at 2.25%, so the decision was as expected.

How did USD/CAD react to the BoC decision in December 2025?

On one-minute candles: the hour before ranged 16 pips; the first spike went above it by 17 pips; it did not close back inside within the hour; after one hour USD/CAD was +5.5 pips from its pre-announcement price.

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