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Bank of Canada

BoCCanadaOvernight rate targetCAD

bankofcanada.ca

2.50%Overnight rate target · as of 2 Nov 2026 · BIS

Raised by 25 bp to 2.50% on 29 Oct 2026.

Twelve months+25 bp1 hike, 0 cuts
Highest since Nov 20065.00%13 Jul 2023
Lowest0.25%21 Apr 2009
Next meeting9 Dec 2026in 4 weeks · the bank's calendar
Twenty years

Overnight rate target

each change a step · ▲ hike · ▼ cut · 44 decisions on record
0%1%2%3%4%5%200820102012201420162018202020222024202629 Oct 2026: +25 bp to 2.50%30 Oct 2025: −25 bp to 2.25%18 Sept 2025: −25 bp to 2.50%13 Mar 2025: −25 bp to 2.75%30 Jan 2025: −25 bp to 3.00%12 Dec 2024: −50 bp to 3.25%24 Oct 2024: −50 bp to 3.75%5 Sept 2024: −25 bp to 4.25%25 Jul 2024: −25 bp to 4.50%6 Jun 2024: −25 bp to 4.75%13 Jul 2023: +25 bp to 5.00%8 Jun 2023: +25 bp to 4.75%26 Jan 2023: +25 bp to 4.50%8 Dec 2022: +50 bp to 4.25%27 Oct 2022: +50 bp to 3.75%8 Sept 2022: +75 bp to 3.25%14 Jul 2022: +100 bp to 2.50%2 Jun 2022: +50 bp to 1.50%14 Apr 2022: +50 bp to 1.00%3 Mar 2022: +25 bp to 0.50%27 Mar 2020: −50 bp to 0.25%16 Mar 2020: −50 bp to 0.75%4 Mar 2020: −50 bp to 1.25%24 Oct 2018: +25 bp to 1.75%11 Jul 2018: +25 bp to 1.50%17 Jan 2018: +25 bp to 1.25%6 Sept 2017: +25 bp to 1.00%12 Jul 2017: +25 bp to 0.75%15 Jul 2015: −25 bp to 0.50%21 Jan 2015: −25 bp to 0.75%8 Sept 2010: +25 bp to 1.00%20 Jul 2010: +25 bp to 0.75%1 Jun 2010: +25 bp to 0.50%21 Apr 2009: −25 bp to 0.25%3 Mar 2009: −50 bp to 0.50%20 Jan 2009: −50 bp to 1.00%9 Dec 2008: −75 bp to 1.50%21 Oct 2008: −25 bp to 2.25%8 Oct 2008: −50 bp to 2.50%22 Apr 2008: −50 bp to 3.00%4 Mar 2008: −50 bp to 3.50%22 Jan 2008: −25 bp to 4.00%4 Dec 2007: −25 bp to 4.25%10 Jul 2007: +25 bp to 4.50%
Decisions

Every change of the rate

the latest first · since 13 Nov 2006
DateMoveFromToSize
29 Oct 2026Hike2.25%2.50%+25 bp
30 Oct 2025Cut2.50%2.25%−25 bp
18 Sept 2025Cut2.75%2.50%−25 bp
13 Mar 2025Cut3.00%2.75%−25 bp
30 Jan 2025Cut3.25%3.00%−25 bp
12 Dec 2024Cut3.75%3.25%−50 bp
24 Oct 2024Cut4.25%3.75%−50 bp
5 Sept 2024Cut4.50%4.25%−25 bp
25 Jul 2024Cut4.75%4.50%−25 bp
6 Jun 2024Cut5.00%4.75%−25 bp
13 Jul 2023Hike4.75%5.00%+25 bp
8 Jun 2023Hike4.50%4.75%+25 bp
The 32 earlier decisions, back to Jul 2007
DateMoveFromToSize
26 Jan 2023Hike4.25%4.50%+25 bp
8 Dec 2022Hike3.75%4.25%+50 bp
27 Oct 2022Hike3.25%3.75%+50 bp
8 Sept 2022Hike2.50%3.25%+75 bp
14 Jul 2022Hike1.50%2.50%+100 bp
2 Jun 2022Hike1.00%1.50%+50 bp
14 Apr 2022Hike0.50%1.00%+50 bp
3 Mar 2022Hike0.25%0.50%+25 bp
27 Mar 2020Cut0.75%0.25%−50 bp
16 Mar 2020Cut1.25%0.75%−50 bp
4 Mar 2020Cut1.75%1.25%−50 bp
24 Oct 2018Hike1.50%1.75%+25 bp
11 Jul 2018Hike1.25%1.50%+25 bp
17 Jan 2018Hike1.00%1.25%+25 bp
6 Sept 2017Hike0.75%1.00%+25 bp
12 Jul 2017Hike0.50%0.75%+25 bp
15 Jul 2015Cut0.75%0.50%−25 bp
21 Jan 2015Cut1.00%0.75%−25 bp
8 Sept 2010Hike0.75%1.00%+25 bp
20 Jul 2010Hike0.50%0.75%+25 bp
1 Jun 2010Hike0.25%0.50%+25 bp
21 Apr 2009Cut0.50%0.25%−25 bp
3 Mar 2009Cut1.00%0.50%−50 bp
20 Jan 2009Cut1.50%1.00%−50 bp
9 Dec 2008Cut2.25%1.50%−75 bp
21 Oct 2008Cut2.50%2.25%−25 bp
8 Oct 2008Cut3.00%2.50%−50 bp
22 Apr 2008Cut3.50%3.00%−50 bp
4 Mar 2008Cut4.00%3.50%−50 bp
22 Jan 2008Cut4.25%4.00%−25 bp
4 Dec 2007Cut4.50%4.25%−25 bp
10 Jul 2007Hike4.25%4.50%+25 bp

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