Canada Numbers

Bank of Canada policy interest rate

The target for the overnight rate, the recent decisions and the dates of the next announcements, as the Bank of Canada publishes them.

Last checked October 28, 2026Next check November 28, 2026

Current policy rate

2.50%

Announced October 28, 2026 (+0.25 percentage points). The Bank says a change takes effect the day after its announcement. The next announcement is scheduled for December 9, 2026.

Source: Bank of Canada: Policy interest rate (read October 28, 2026) official

Recent decisions

Bank of Canada policy interest rate decisions, newest first
AnnouncedTargetChange
Oct 28, 20262.50%+0.25 points
Sep 2, 20262.25%No change
Jul 15, 20262.25%No change
Jun 10, 20262.25%No change
Apr 29, 20262.25%No change
Mar 18, 20262.25%No change
Jan 28, 20262.25%No change
Dec 10, 20252.25%No change
Oct 29, 20252.25%-0.25 points
Sep 17, 20252.50%-0.25 points
Jul 30, 20252.75%No change
Jun 4, 20252.75%No change

Announcement dates

The Bank announces its rate on eight fixed dates each year.

2026

Bank of Canada announcement dates, 2026
DatePublications
Jan 28, 2026Interest rate announcement and Monetary Policy Report
Mar 18, 2026Interest rate announcement
Apr 29, 2026Interest rate announcement and Monetary Policy Report
Jun 10, 2026Interest rate announcement
Jul 15, 2026Interest rate announcement and Monetary Policy Report
Sep 2, 2026Interest rate announcement
Oct 28, 2026Interest rate announcement and Monetary Policy Report
Dec 9, 2026 nextInterest rate announcement

2027

Bank of Canada announcement dates, 2027
DatePublications
Jan 27, 2027Interest rate announcement and Monetary Policy Report
Mar 3, 2027Interest rate announcement
Apr 28, 2027Interest rate announcement and Monetary Policy Report
Jun 2, 2027Interest rate announcement
Jul 21, 2027Interest rate announcement and Monetary Policy Report
Sep 8, 2027Interest rate announcement
Oct 27, 2027Interest rate announcement and Monetary Policy Report
Dec 8, 2027Interest rate announcement

Prime rate

The prime rate is not shown. Each bank sets its own prime rate, and we have found no current official source for it: the Bank of Canada's only series called "Prime rate" stops in 2019.

What changed

  • Oct 28, 2026The policy rate was raised 0.25 percentage points to 2.50%. The Bank's page says a change takes effect the day after its announcement.
  • Oct 29, 2025The policy rate was lowered 0.25 percentage points to 2.25%.

Dates are the Bank's announcement dates.

Before you rely on this

This is the Bank of Canada's policy rate, not the rate on your mortgage, loan or savings account, which each lender sets. Confirm on the Bank of Canada page. General information, not financial advice.