🇨🇦 Bank of Canada
Current Rate
2.25%
2026/10/09
ABOUT KEY RATE
The Bank of Canada’s key interest rate is the primary monetary policy tool that dictates borrowing costs for commercial banks and influences inflation and economic growth. As of April 21, 2009, the current rate stands at 0.25%, matching its historical minimum. The historical maximum reached 5.00%. Cutting the rate to this record low aims to stimulate the economy during a crisis by making credit cheaper for businesses and consumers, thereby supporting demand. This action typically weakens the Canadian dollar against other currencies, enhancing export competitiveness, though it may also lead to increased asset prices and potential financial stability risks.
Statistics
Minimum
0.25%
2009/04/21
Maximum
5.00%
2023/07/13
Average
1.50%
|
|
|
Interest Rate History
| Date | Rate | Change |
|---|---|---|
| 2026/10/09 | 2.25% | — |
| 2025/10/30 | 2.25% | -0.25% |
| 2025/09/18 | 2.50% | -0.25% |
| 2025/03/13 | 2.75% | -0.25% |
| 2025/01/30 | 3.00% | -0.25% |
| 2024/12/12 | 3.25% | -0.50% |
| 2024/10/24 | 3.75% | -0.50% |
| 2024/09/05 | 4.25% | -0.25% |
| 2024/07/25 | 4.50% | -0.25% |
| 2024/06/06 | 4.75% | -0.25% |
| 2023/07/13 | 5.00% | +0.25% |
| 2023/06/08 | 4.75% | +0.25% |
| 2023/01/26 | 4.50% | +0.25% |
| 2022/12/08 | 4.25% | +0.50% |
| 2022/10/27 | 3.75% | +0.50% |
| 2022/09/08 | 3.25% | +0.75% |
| 2022/07/14 | 2.50% | +1.00% |
| 2022/06/02 | 1.50% | +0.50% |
| 2022/04/14 | 1.00% | +0.50% |
| 2022/03/03 | 0.50% | +0.25% |
| 2020/03/27 | 0.25% | -0.50% |
| 2020/03/16 | 0.75% | -0.50% |
| 2020/03/04 | 1.25% | -0.50% |
| 2018/10/24 | 1.75% | +0.25% |
| 2018/07/11 | 1.50% | +0.25% |
| 2018/01/17 | 1.25% | +0.25% |
| 2017/09/06 | 1.00% | +0.25% |
| 2017/07/12 | 0.75% | +0.25% |
| 2015/07/15 | 0.50% | -0.25% |
| 2015/01/21 | 0.75% | -0.25% |
| 2010/09/08 | 1.00% | +0.25% |
| 2010/07/20 | 0.75% | +0.25% |
| 2010/06/01 | 0.50% | +0.25% |
| 2009/04/21 | 0.25% | — |