Canada’s Five-Year Financial Markets Outlook—April 2026

Mixed Signals Confront Policy-Makers

Canada’s consumer price index increased by 2.1 per cent in 2025 and will rise 2.7 per cent in 2026. A dip below 2 per cent is on tap for 2027, then 2 per cent annual hikes are expected from 2028 to 2030.

Will the Bank of Canada hold steady at the 2.25 per cent “neutral” rate through the medium term? Will the U.S. Federal Reserve Board resume monetary easing in the second half of 2026? What might be expected from the Bank of England, the European Central Bank, and Bank of Japan? And what is the outlook for Canada’s dollar in 2026, and from 2027 to 2030?

Read the online experience for our full five-year outlook.