Bank of Canada · Target for the overnight rate
Canada · CAD · Policy rate
The Bank of Canada’s Target for the overnight rate is 2.50 %, last changed on 29 Oct 2026 when it was raised by 25 bp from 2.25 %. The next scheduled decision is on .
2.50 %
- Last change
- raised +25 bp·announced 28 Oct 2026
- Previous rate
- 2.25 %
- Next decision
- Latest observation
- Source
- BIS + BoC
2.50 % ·
2 Nov 20210.00 – 5.00 %2 Nov 2026
Recent decisions
| Date | Rate | Change |
|---|---|---|
| announced 28 Oct 2026 | 2.50 % | +25 bp |
| 2.25 % | hold | |
| 2.25 % | hold | |
| 2.25 % | hold | |
| 2.25 % | hold | |
| 2.25 % | hold | |
| 2.25 % | hold | |
| 2.25 % | hold | |
| announced 29 Oct 2025 | 2.25 % | −25 bp |
Changes are dated by when they took effect; holds by the announcement day.
At a glance
- Economy
- Canada
- Currency
- CAD
- Type
- Policy rate
- Set by
- Bank of Canada
- History since
- 1960
- Changes in the last 12 months
- 1
Questions and answers
- What is the current Bank of Canada interest rate?
- The Bank of Canada’s Target for the overnight rate is 2.50 %, last changed on 29 Oct 2026 when it was raised by 25 bp from 2.25 %.
- When did the Bank of Canada last change its rate?
- On 29 Oct 2026, when the Target for the overnight rate was raised by 25 bp to 2.50 % from 2.25 %.
- What did the Bank of Canada decide at its last meeting?
- On 29 Oct 2026 it raised the Target for the overnight rate by 25 bp to 2.50 %.
- When is the next Bank of Canada rate decision?
- The next scheduled announcement is on 9 Dec 2026.
Decisions by year since 2017
2026net +25 bp
| Date | Rate | Change |
|---|---|---|
| announced 28 Oct 2026 | 2.50 % | +25 bp |
| 2.25 % | hold | |
| 2.25 % | hold | |
| 2.25 % | hold | |
| 2.25 % | hold | |
| 2.25 % | hold | |
| 2.25 % | hold |
2025net −100 bp
| Date | Rate | Change |
|---|---|---|
| 2.25 % | hold | |
| announced 29 Oct 2025 | 2.25 % | −25 bp |
| announced 17 Sep 2025 | 2.50 % | −25 bp |
| 2.75 % | hold | |
| 2.75 % | hold | |
| 2.75 % | hold | |
| announced 12 Mar 2025 | 2.75 % | −25 bp |
| announced 29 Jan 2025 | 3.00 % | −25 bp |
2024net −175 bp
| Date | Rate | Change |
|---|---|---|
| 3.25 % | −50 bp | |
| 3.75 % | −50 bp | |
| 4.25 % | −25 bp | |
| 4.50 % | −25 bp | |
| 4.75 % | −25 bp |
2023net +75 bp
| Date | Rate | Change |
|---|---|---|
| 5.00 % | +25 bp | |
| 4.75 % | +25 bp | |
| 4.50 % | +25 bp |
2022net +400 bp
| Date | Rate | Change |
|---|---|---|
| 4.25 % | +50 bp | |
| 3.75 % | +50 bp | |
| 3.25 % | +75 bp | |
| 2.50 % | +100 bp | |
| 1.50 % | +50 bp | |
| 1.00 % | +50 bp | |
| 0.50 % | +25 bp |
2020net −150 bp
| Date | Rate | Change |
|---|---|---|
| 0.25 % | −150 bp |
2018net +75 bp
| Date | Rate | Change |
|---|---|---|
| 1.75 % | +25 bp | |
| 1.50 % | +25 bp | |
| 1.25 % | +25 bp |
2017net +50 bp
| Date | Rate | Change |
|---|---|---|
| 1.00 % | +25 bp | |
| 0.75 % | +25 bp |
Dates before 2021 are month precision (monthly BIS data).
Other rates in North America
- United States · Federal Reserve3.75–4.00 %
- Mexico · Banco de México6.50 %
Source: BIS central bank policy rates, Bank of Canada. Latest observation 29 Oct 2026. Refreshed every 30 minutes.