The Bank of Canada’s policy interest rate, the target for the overnight rate, is 2.25 per cent. The next scheduled rate announcement is Oct. 28, 2026, when the central bank will also publish its Monetary Policy Report.
Last updated Oct. 14, 2026.
Source: Bank of Canada, Policy interest rate.
Current rate and last change
The Bank of Canada lowered its target for the overnight rate by 0.25 percentage points, from 2.50 per cent to 2.25 per cent, effective Oct. 29, 2025. The Bank’s published rate table lists no change at its Sept. 2, 2026, announcement, so the rate has stood at 2.25 per cent since then.
Next decision
The Bank’s next interest rate announcement is scheduled for Oct. 28, 2026. Our reporting on what economists and markets are watching ahead of that date is collected below.
Bank of Canada faces Oct. 28 decision after job losses looks at the labour market data feeding into the decision. Why Canada lost 68,000 jobs, and who was hit hardest breaks down the jobs report. Money Week Canada: Rate decision Oct. 28, CCB pays Oct. 20 places the decision alongside other money dates this month.
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