Bank of Canada interest rate
What is the Bank of Canada policy interest rate?
The Bank of Canada’s policy rate is the target for overnight borrowing, not the rate a lender promises on a mortgage. Ask for the latest available observation in chat, or open the Bank’s policy-rate page for decisions and the announcement schedule.
Where to begin
- Check the date next to the policy-rate figure. An observation date and a decision date can differ.
- Read the Bank’s linked announcement for its explanation of the decision.
- For a mortgage, check the lender’s contract and the separate consumer guidance; the policy rate alone does not determine your payment.
Before you open the official service
- Whether you need the latest observation, a past decision or an explanation
- The date or period you want to compare
Keep your actual documents and account details off this website. Use the official service’s current checklist before applying.
What to check for your situation
Published observations can lag today. A rate decision is not a prediction of the next decision or a personal borrowing offer.
Fees, processing times and document rules can change. This page helps you navigate; it does not confirm eligibility or replace the government’s instructions.
Official sources
bankofcanada.ca · Official websiteBank of Canada — Policy interest rateThe policy instrument is the target for the overnight rate. The page provides recent decisions and an announcement schedule.Checked - bankofcanada.ca · Official websiteBank of Canada — Valet dataThe Valet API provides public access to Bank of Canada data.Checked
Prepared by Active K Digital from the linked public guidance. Read our source approach.