Bank of Canada
Overnight rate target, 2.25% since 30 October 2025.
as of 30 Oct 2026 · own history · 408 decisions since 1935
Canada·CAD·all central banksLast
2.25%
30 October 2025
Previous
2.50%
18 September 2025
High since 1935
21.03%
1 August 1981
Low since 1935
0.25%
21 April 2009
Meetings a year
8
scheduled next year
Next decision
9 December 2026
in 37 days
Every decision
Newest first; a shaded row marks a change of instrument.
| Date | Level | Change | Instrument |
|---|---|---|---|
| 2025-10-30 | 2.25% | −0.25% | Overnight rate target |
| 2025-09-18 | 2.50% | −0.25% | Overnight rate target |
| 2025-03-13 | 2.75% | −0.25% | Overnight rate target |
| 2025-01-30 | 3.00% | −0.25% | Overnight rate target |
| 2024-12-12 | 3.25% | −0.50% | Overnight rate target |
| 2024-10-24 | 3.75% | −0.50% | Overnight rate target |
| 2024-09-05 | 4.25% | −0.25% | Overnight rate target |
| 2024-07-25 | 4.50% | −0.25% | Overnight rate target |
| 2024-06-06 | 4.75% | −0.25% | Overnight rate target |
| 2023-07-13 | 5.00% | +0.25% | Overnight rate target |
| 2023-06-08 | 4.75% | +0.25% | Overnight rate target |
| 2023-01-26 | 4.50% | +0.25% | Overnight rate target |
| 2022-12-08 | 4.25% | +0.50% | Overnight rate target |
| 2022-10-27 | 3.75% | +0.50% | Overnight rate target |
| 2022-09-08 | 3.25% | +0.75% | Overnight rate target |
| 2022-07-14 | 2.50% | +1.00% | Overnight rate target |
| 2022-06-02 | 1.50% | +0.50% | Overnight rate target |
| 2022-04-14 | 1.00% | +0.50% | Overnight rate target |
| 2022-03-03 | 0.50% | +0.25% | Overnight rate target |
| 2020-03-27 | 0.25% | −0.50% | Overnight rate target |
| 2020-03-16 | 0.75% | −0.50% | Overnight rate target |
| 2020-03-04 | 1.25% | −0.50% | Overnight rate target |
| 2018-10-24 | 1.75% | +0.25% | Overnight rate target |
| 2018-07-11 | 1.50% | +0.25% | Overnight rate target |
| 2018-01-17 | 1.25% | +0.25% | Overnight rate target |
| 2017-09-06 | 1.00% | +0.25% | Overnight rate target |
| 2017-07-12 | 0.75% | +0.25% | Overnight rate target |
| 2015-07-15 | 0.50% | — | Overnight rate target |
| 2015-07-15: Instrument switched from Bank Rate (overnight target + 25bp) to Overnight rate target. | |||
| 2015-01-21 | 0.75% | −0.25% | Bank Rate (overnight target + 25bp) |
| 2010-09-08 | 1.00% | +0.25% | Bank Rate (overnight target + 25bp) |
| 2010-07-20 | 0.75% | +0.25% | Bank Rate (overnight target + 25bp) |
| 2010-06-01 | 0.50% | +0.25% | Bank Rate (overnight target + 25bp) |
| 2009-04-21 | 0.25% | −0.25% | Bank Rate (overnight target + 25bp) |
| 2009-04-01 | 0.50% | −0.25% | Bank Rate (overnight target + 25bp) |
| 2009-03-01 | 0.75% | −0.50% | Bank Rate (overnight target + 25bp) |
| 2009-01-01 | 1.25% | −0.50% | Bank Rate (overnight target + 25bp) |
| 2008-12-01 | 1.75% | −0.75% | Bank Rate (overnight target + 25bp) |
| 2008-10-01 | 2.50% | −0.75% | Bank Rate (overnight target + 25bp) |
| 2008-04-01 | 3.25% | −0.50% | Bank Rate (overnight target + 25bp) |
| 2008-03-01 | 3.75% | −0.50% | Bank Rate (overnight target + 25bp) |
| 2008-01-01 | 4.25% | −0.25% | Bank Rate (overnight target + 25bp) |
| 2007-12-01 | 4.50% | −0.25% | Bank Rate (overnight target + 25bp) |
| 2007-07-01 | 4.75% | +0.25% | Bank Rate (overnight target + 25bp) |
| 2006-05-01 | 4.50% | +0.25% | Bank Rate (overnight target + 25bp) |
| 2006-04-01 | 4.25% | +0.25% | Bank Rate (overnight target + 25bp) |
| 2006-03-01 | 4.00% | +0.25% | Bank Rate (overnight target + 25bp) |
| 2006-01-01 | 3.75% | +0.25% | Bank Rate (overnight target + 25bp) |
| 2005-12-01 | 3.50% | +0.25% | Bank Rate (overnight target + 25bp) |
| 2005-10-01 | 3.25% | +0.25% | Bank Rate (overnight target + 25bp) |
| 2005-09-01 | 3.00% | +0.25% | Bank Rate (overnight target + 25bp) |
| 2004-10-01 | 2.75% | +0.25% | Bank Rate (overnight target + 25bp) |
| 2004-09-01 | 2.50% | +0.25% | Bank Rate (overnight target + 25bp) |
| 2004-04-01 | 2.25% | −0.25% | Bank Rate (overnight target + 25bp) |
| 2004-03-01 | 2.50% | −0.25% | Bank Rate (overnight target + 25bp) |
| 2004-01-01 | 2.75% | −0.25% | Bank Rate (overnight target + 25bp) |
| 2003-09-01 | 3.00% | −0.25% | Bank Rate (overnight target + 25bp) |
| 2003-07-01 | 3.25% | −0.25% | Bank Rate (overnight target + 25bp) |
| 2003-04-01 | 3.50% | +0.25% | Bank Rate (overnight target + 25bp) |
| 2003-03-01 | 3.25% | +0.25% | Bank Rate (overnight target + 25bp) |
| 2002-07-01 | 3.00% | +0.25% | Bank Rate (overnight target + 25bp) |
| 2002-06-01 | 2.75% | +0.25% | Bank Rate (overnight target + 25bp) |
| 2002-04-01 | 2.50% | +0.25% | Bank Rate (overnight target + 25bp) |
| 2002-01-01 | 2.25% | −0.25% | Bank Rate (overnight target + 25bp) |
| 2001-11-01 | 2.50% | −0.50% | Bank Rate (overnight target + 25bp) |
| 2001-10-01 | 3.00% | −0.75% | Bank Rate (overnight target + 25bp) |
| 2001-09-01 | 3.75% | −0.50% | Bank Rate (overnight target + 25bp) |
| 2001-08-01 | 4.25% | −0.25% | Bank Rate (overnight target + 25bp) |
| 2001-07-01 | 4.50% | −0.25% | Bank Rate (overnight target + 25bp) |
| 2001-05-01 | 4.75% | −0.25% | Bank Rate (overnight target + 25bp) |
| 2001-04-01 | 5.00% | −0.25% | Bank Rate (overnight target + 25bp) |
| 2001-03-01 | 5.25% | −0.50% | Bank Rate (overnight target + 25bp) |
| 2001-01-01 | 5.75% | −0.25% | Bank Rate (overnight target + 25bp) |
| 2000-05-01 | 6.00% | +0.50% | Bank Rate (overnight target + 25bp) |
| 2000-03-01 | 5.50% | +0.25% | Bank Rate (overnight target + 25bp) |
| 2000-02-01 | 5.25% | +0.25% | Bank Rate (overnight target + 25bp) |
| 1999-11-01 | 5.00% | +0.25% | Bank Rate (overnight target + 25bp) |
| 1999-05-01 | 4.75% | −0.25% | Bank Rate (overnight target + 25bp) |
| 1999-03-01 | 5.00% | −0.25% | Bank Rate (overnight target + 25bp) |
| 1998-11-01 | 5.25% | −0.25% | Bank Rate (overnight target + 25bp) |
| 1998-10-01 | 5.50% | −0.25% | Bank Rate (overnight target + 25bp) |
| 1998-09-01 | 5.75% | +0.75% | Bank Rate (overnight target + 25bp) |
| 1998-02-01 | 5.00% | +0.50% | Bank Rate (overnight target + 25bp) |
| 1997-12-01 | 4.50% | +0.50% | Bank Rate (overnight target + 25bp) |
| 1997-11-01 | 4.00% | +0.25% | Bank Rate (overnight target + 25bp) |
| 1997-10-01 | 3.75% | +0.25% | Bank Rate (overnight target + 25bp) |
| 1997-07-01 | 3.50% | +0.25% | Bank Rate (overnight target + 25bp) |
| 1996-11-01 | 3.25% | −0.25% | Bank Rate (overnight target + 25bp) |
| 1996-10-01 | 3.50% | −0.75% | Bank Rate (overnight target + 25bp) |
| 1996-08-01 | 4.25% | −0.50% | Bank Rate (overnight target + 25bp) |
| 1996-07-01 | 4.75% | −0.25% | Bank Rate (overnight target + 25bp) |
| 1996-04-01 | 5.00% | −0.25% | Bank Rate (overnight target + 25bp) |
| 1996-03-01 | 5.25% | −0.25% | Bank Rate (overnight target + 25bp) |
| 1996-02-01 | 5.50% | +0.13% | Bank Rate (overnight target + 25bp) |
| 1996-01-01 | 5.37% | −0.42% | Bank Rate (overnight target + 25bp) |
| 1995-12-01 | 5.79% | −0.28% | Bank Rate (overnight target + 25bp) |
| 1995-11-01 | 6.07% | −1.58% | Bank Rate (overnight target + 25bp) |
| 1995-10-01 | 7.65% | +0.94% | Bank Rate (overnight target + 25bp) |
| 1995-09-01 | 6.71% | +0.12% | Bank Rate (overnight target + 25bp) |
| 1995-08-01 | 6.59% | −0.28% | Bank Rate (overnight target + 25bp) |
2025-10-302.25%
Overnight rate target−0.25%
2025-09-182.50%
Overnight rate target−0.25%
2025-03-132.75%
Overnight rate target−0.25%
2025-01-303.00%
Overnight rate target−0.25%
2024-12-123.25%
Overnight rate target−0.50%
2024-10-243.75%
Overnight rate target−0.50%
2024-09-054.25%
Overnight rate target−0.25%
2024-07-254.50%
Overnight rate target−0.25%
2024-06-064.75%
Overnight rate target−0.25%
2023-07-135.00%
Overnight rate target+0.25%
2023-06-084.75%
Overnight rate target+0.25%
2023-01-264.50%
Overnight rate target+0.25%
Where these numbers come from
Own history from two Bank of Canada Valet series: 'Bank rate' (V122530), monthly first-of-month values, 1935-01-01 to 2009-04-20 (the exact day of a change within that month is not published in this series, so each early change is dated to the first of its reporting month); then 'Target for the overnight rate' (V39079), exact daily change dates, 2009-04-21 onward. The Bank Rate was the discount rate directly until Nov 1994, then the upper bound of the overnight operating band (target +25bp) until 2015-07-15, then equal to the target itself. BIS Canada daily is compared from 2009-04-21 (the daily-resolution splice; the monthly era's first-of-month dates are not exact change days, so an earlier comparison would flag date precision, not real disagreement) and agrees on 33 of 33 overlapping change dates checked (0.0% disagreement).