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Bank of Canada Interest Rate Decision, July 2026

The Bank of Canada held the overnight rate target at 2.25% on July 15, 2026, as expected.

Decision2.25%■ hold
Against expectedAs expectedexpected 2.25%
Previous2.25%overnight rate target
USD/CAD one hour later −5.2 pips from the last price before
The result

What the BoC decided in July 2026

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 EDT Wednesday, July 15, 2026; press conference at 10:30 AM EDT.
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 Jul 15, 2026 The hour before the 09:45 announcement ranged 13 pips. The first spike went above it by 1.2 pips, and a five-minute candle closed back inside after 5 minutes. 1.4045 1.4050 1.4055 1.4060 1.4065 09:00 09:30 10:00 10:30 11:00 11:30 THE HOUR BEFORE BoC 09:45 PRESS CONF. Spike 1.40642 · 1.2 pips past the hour's high Closed back inside · 5 min
  1. The hour beforeUSD/CAD ranged 13 pips, from 1.40502 to 1.40630, and was at 1.40601 at the announcement.
  2. The first spike After 1 minute price went through the hour's high and ran 1.2 pips past it.
  3. The close back A five-minute candle closed back inside the range after 5 minutes.
  4. The other side Price then traded through the opposite edge of the range within four hours.
  5. The moves From the last price before the announcement: +5.6 pips at 15 minutes, −5.2 pips at one hour, −29 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 of the closed-back cases. Counts include the decisions where it did not close back. All BoC dates · BoC overview.

← Previous decisionBoC, June 2026Held at 2.25% Next decision →BoC, September 2026Wed, Sep 2, 9:45 AM EDT
Questions

BoC July 2026 decision: questions

What time was the BoC interest rate decision on Jul 15, 2026?

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

What did the BoC decide in July 2026?

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 July 2026?

On one-minute candles: the hour before ranged 13 pips; the first spike went above it by 1.2 pips; a five-minute candle closed back inside after 5 minutes; after one hour USD/CAD was −5.2 pips from its pre-announcement price.

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