Making sense of the Bank of Canada interest rate decision on March 18, 2026

Making sense of the Bank of Canada interest rate decision on March 18, 2026

Home buyers waiting for a spring interest-rate drop won’t have much to cheer about this month; the Bank of Canada has opted to leave its benchmark borrowing rate unchanged in its March announcement, marking its third consecutive rate hold. This means the Bank’s overnight lending rate will remain at 2.25%, with the prime rate used by lenders—also set based on this benchmark—staying at 4.45%. This rate acts as the pricing floor for a number of flo…