Central Bank RatesCanada: central bank policy rate
Last updated:
Last 2 years (daily values)
Policy rate since 2000 (month-end values)
All changes since 2000
| Date | From | To | Change |
|---|---|---|---|
| Oct 30, 2025 | 2.50% | 2.25% | cut -25 bp |
| Sep 18, 2025 | 2.75% | 2.50% | cut -25 bp |
| Mar 13, 2025 | 3.00% | 2.75% | cut -25 bp |
| Jan 30, 2025 | 3.25% | 3.00% | cut -25 bp |
| Dec 12, 2024 | 3.75% | 3.25% | cut -50 bp |
| Oct 24, 2024 | 4.25% | 3.75% | cut -50 bp |
| Sep 5, 2024 | 4.50% | 4.25% | cut -25 bp |
| Jul 25, 2024 | 4.75% | 4.50% | cut -25 bp |
| Jun 6, 2024 | 5.00% | 4.75% | cut -25 bp |
| Jul 13, 2023 | 4.75% | 5.00% | hike +25 bp |
| Jun 8, 2023 | 4.50% | 4.75% | hike +25 bp |
| Jan 26, 2023 | 4.25% | 4.50% | hike +25 bp |
| Dec 8, 2022 | 3.75% | 4.25% | hike +50 bp |
| Oct 27, 2022 | 3.25% | 3.75% | hike +50 bp |
| Sep 8, 2022 | 2.50% | 3.25% | hike +75 bp |
| Jul 14, 2022 | 1.50% | 2.50% | hike +100 bp |
| Jun 2, 2022 | 1.00% | 1.50% | hike +50 bp |
| Apr 14, 2022 | 0.50% | 1.00% | hike +50 bp |
| Mar 3, 2022 | 0.25% | 0.50% | hike +25 bp |
| Mar 27, 2020 | 0.75% | 0.25% | cut -50 bp |
| Mar 16, 2020 | 1.25% | 0.75% | cut -50 bp |
| Mar 4, 2020 | 1.75% | 1.25% | cut -50 bp |
| Oct 24, 2018 | 1.50% | 1.75% | hike +25 bp |
| Jul 11, 2018 | 1.25% | 1.50% | hike +25 bp |
| Jan 17, 2018 | 1.00% | 1.25% | hike +25 bp |
| Sep 6, 2017 | 0.75% | 1.00% | hike +25 bp |
| Jul 12, 2017 | 0.50% | 0.75% | hike +25 bp |
| Jul 15, 2015 | 0.75% | 0.50% | cut -25 bp |
| Jan 21, 2015 | 1.00% | 0.75% | cut -25 bp |
| Sep 8, 2010 | 0.75% | 1.00% | hike +25 bp |
| Jul 20, 2010 | 0.50% | 0.75% | hike +25 bp |
| Jun 1, 2010 | 0.25% | 0.50% | hike +25 bp |
| Apr 21, 2009 | 0.50% | 0.25% | cut -25 bp |
| Mar 3, 2009 | 1.00% | 0.50% | cut -50 bp |
| Jan 20, 2009 | 1.50% | 1.00% | cut -50 bp |
| Dec 9, 2008 | 2.25% | 1.50% | cut -75 bp |
| Oct 21, 2008 | 2.50% | 2.25% | cut -25 bp |
| Oct 8, 2008 | 3.00% | 2.50% | cut -50 bp |
| Apr 22, 2008 | 3.50% | 3.00% | cut -50 bp |
| Mar 4, 2008 | 4.00% | 3.50% | cut -50 bp |
| Jan 22, 2008 | 4.25% | 4.00% | cut -25 bp |
| Dec 4, 2007 | 4.50% | 4.25% | cut -25 bp |
| Jul 10, 2007 | 4.25% | 4.50% | hike +25 bp |
| May 24, 2006 | 4.00% | 4.25% | hike +25 bp |
| Apr 25, 2006 | 3.75% | 4.00% | hike +25 bp |
| Mar 7, 2006 | 3.50% | 3.75% | hike +25 bp |
| Jan 24, 2006 | 3.25% | 3.50% | hike +25 bp |
| Dec 6, 2005 | 3.00% | 3.25% | hike +25 bp |
| Oct 18, 2005 | 2.75% | 3.00% | hike +25 bp |
| Sep 7, 2005 | 2.50% | 2.75% | hike +25 bp |
| Oct 19, 2004 | 2.25% | 2.50% | hike +25 bp |
| Sep 8, 2004 | 2.00% | 2.25% | hike +25 bp |
| Apr 13, 2004 | 2.25% | 2.00% | cut -25 bp |
| Mar 2, 2004 | 2.50% | 2.25% | cut -25 bp |
| Jan 20, 2004 | 2.75% | 2.50% | cut -25 bp |
| Sep 3, 2003 | 3.00% | 2.75% | cut -25 bp |
| Jul 15, 2003 | 3.25% | 3.00% | cut -25 bp |
| Apr 15, 2003 | 3.00% | 3.25% | hike +25 bp |
| Mar 4, 2003 | 2.75% | 3.00% | hike +25 bp |
| Jul 16, 2002 | 2.50% | 2.75% | hike +25 bp |
| Jun 4, 2002 | 2.25% | 2.50% | hike +25 bp |
| Apr 16, 2002 | 2.00% | 2.25% | hike +25 bp |
| Jan 15, 2002 | 2.25% | 2.00% | cut -25 bp |
| Nov 27, 2001 | 2.75% | 2.25% | cut -50 bp |
| Oct 23, 2001 | 3.50% | 2.75% | cut -75 bp |
| Sep 17, 2001 | 4.00% | 3.50% | cut -50 bp |
| Aug 28, 2001 | 4.25% | 4.00% | cut -25 bp |
| Jul 17, 2001 | 4.50% | 4.25% | cut -25 bp |
| May 29, 2001 | 4.75% | 4.50% | cut -25 bp |
| Apr 17, 2001 | 5.00% | 4.75% | cut -25 bp |
| Mar 6, 2001 | 5.50% | 5.00% | cut -50 bp |
| Jan 23, 2001 | 5.75% | 5.50% | cut -25 bp |
| May 17, 2000 | 5.25% | 5.75% | hike +50 bp |
| Mar 22, 2000 | 5.00% | 5.25% | hike +25 bp |
| Feb 3, 2000 | 4.75% | 5.00% | hike +25 bp |
Which rate is shown (BIS notes, in English)
From 1 Jun 1994 onwards: Central Bank target, overnight rate; from 27 Jul 1960 to 31 May 1994: official bank rate.
In Jun 1994 the Bank of Canada (BoC) began shifting emphasis from the bank rate to the target for the overnight rate as its key monetary policy instrument. In Feb 1999 the target for the overnight rate was defined as the midpoint of the band, or 25 basis points below the bank rate. In May 2001 the BoC began emphasizing the target as its key interest rate in its communications with the public.
Changes by year
Method
We download the BIS daily policy-rate series (WS_CBPOL). A change is recorded on the first day the published value differs from the previous day's value. Series that ended (for example euro area members before joining the euro) are not listed. bp = basis points (0.01 percentage point).
About this page
The policy rate of Canada is 2.25% (BIS data as of Oct 5, 2026).