Bank Of Canada 2024 Interest Rate. The bank of canada today reduced its target for the overnight rate to 3¾%, with the bank rate at 4% and the deposit rate at 3¾%. The bank of canada held interest rates on january 24, keeping its key policy rate at 5%.

The 0.50 per cent cut is the fifth announcement of 2024. All the models suggest the range for the neutral rate in 2024 increased by 25 basis points from 2023.2 as a result, our 2024 assessment is that the us neutral rate currently lies in the range.