Canada·Calculators·CA Policy Rate

Bank of Canada policy rate

The Bank's target for the overnight rate in force on a given date, and the fixed announcement that set it.

Your numbers

Day

1-31

Month

1-12

Year

2025-2026

Policy rate on 2026-09-03:

2.25%

Announced 2026-09-02, effective 2026-09-03

Target for the overnight rate2.25%

Announced on2026-09-02

Effective from2026-09-03

Bank of Canada target for the overnight rate only. Not the CORRA benchmark, not a commercial prime rate, not a mortgage or deposit rate. Rate changes take effect the day after the fixed announcement date. A date after 2026-10-23, the last verified read, shows as unavailable.

Source: Bank of Canada: Key interest rate page · Rules for 2026 · https://www.bankofcanada.ca/core-functions/monetary-policy/key-interest-rate/ · Checked 2026-10-23Using Canadian rules

Common questions

The rules behind this calculator

Written up, with the page each rule came from.

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Bank of Canada policy rate: how it affects prime rates

The Bank sets the target for overnight borrowing between financial institutions. Its changes influence commercial bank prime rates and other borrowing and saving rates.

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