The Bank of Canada (BoC) Interest Rate Decision is the announcement of the target for the overnight rate, which is the interest rate at which major financial institutions borrow and lend one-day funds among themselves. This rate is the primary tool of monetary policy used to control inflation and stabilize the Canadian economy. The decision is closely watched as it directly impacts mortgage rates, loans, and the value of the Canadian Dollar.
The decision is made by the Bank's Governing Council through a consensus-based process. They evaluate economic indicators such as inflation, employment, and GDP growth to determine the appropriate rate level.
| Date | Actual | Forecast | Surprise |
|---|---|---|---|
| Oct 28, 2026 | — | 2.25 | — |
| Sep 2, 2026 | 2.25 | 2.25 | 0.00 |
| Jul 15, 2026 | 2.25 | 2.25 | 0.00 |
| Jun 10, 2026 | 2.25 | 2.25 | 0.00 |
| Apr 29, 2026 | 2.25 | 2.25 | 0.00 |
| Mar 18, 2026 | 2.25 | 2.25 | 0.00 |
| Jan 28, 2026 | 2.25 | 2.25 | 0.00 |
| Dec 10, 2025 | 2.25 | 2.25 | 0.00 |
| Oct 29, 2025 | 2.25 | 2.25 | 0.00 |
| Sep 17, 2025 | 2.50 | 2.50 | 0.00 |
| Jul 30, 2025 | 2.75 | 2.75 | 0.00 |
| Jun 4, 2025 | 2.75 | 2.75 | 0.00 |
| Apr 16, 2025 | 2.75 | 2.75 | 0.00 |
| Mar 12, 2025 | 2.75 | 2.75 | 0.00 |
| Jan 29, 2025 | 3.00 | 3.00 | 0.00 |
| Dec 11, 2024 | 3.25 | 3.25 | 0.00 |
| Oct 23, 2024 | 3.75 | 3.75 | 0.00 |
| Sep 4, 2024 | 4.25 | 4.25 | 0.00 |
| Jul 24, 2024 | 4.50 | 4.50 | 0.00 |
| Jun 5, 2024 | 4.75 | 4.75 | 0.00 |
| Apr 10, 2024 | 5.00 | 5.00 | 0.00 |
| Mar 6, 2024 | 5.00 | 5.00 | 0.00 |
| Jan 24, 2024 | 5.00 | 5.00 | 0.00 |
| Dec 6, 2023 | 5.00 | 5.00 | 0.00 |
| Oct 25, 2023 | 5.00 | 5.00 | 0.00 |
| Sep 6, 2023 | 5.00 | 5.00 | 0.00 |
| Jul 12, 2023 | 5.00 | 5.00 | 0.00 |
| Jun 7, 2023 | 4.75 | 4.50 | +0.25 |
| Apr 12, 2023 | 4.50 | 4.50 | 0.00 |
| Mar 8, 2023 | 4.50 | 4.50 | 0.00 |
| Jan 25, 2023 | 4.50 | 4.50 | 0.00 |
| Dec 7, 2022 | 4.25 | 4.25 | 0.00 |
| Oct 26, 2022 | 3.75 | 4.00 | -0.25 |
| Sep 7, 2022 | 3.25 | 3.25 | 0.00 |
| Jul 13, 2022 | 2.50 | 2.25 | +0.25 |
| Jun 1, 2022 | 1.50 | 1.50 | 0.00 |
| Apr 13, 2022 | 1.00 | 1.00 | 0.00 |
| Mar 2, 2022 | 0.50 | 0.50 | 0.00 |
| Jan 26, 2022 | 0.25 | 0.25 | 0.00 |
| Dec 8, 2021 | 0.25 | 0.25 | 0.00 |
| Oct 27, 2021 | 0.25 | 0.25 | 0.00 |
The latest reading is within its usual range, less than one standard deviation from the mean.
