On January 17, 2018, the Bank of Canada hiked its overnight rate by 25bps to 1.25 percent, which was  in line with market expectations. Policymakers said that recent data has been strong, inflation is close to target, and the economy is operating roughly at capacity but noticed that uncertainty surrounding the future of NAFTA is clouding the economic outlook.

Please see below Bank of Canada Interest rate changes over the past 5 years: