1. About Us
  2. What is the Bank of Canada's key interest rate right now?
Back

News & Perspectives

Wed Sep 02 2026 14:21:00 GMT+0000

The Bank of Canada's target overnight lending rate is 2.25%. The central bank's latest rate decision on Sept. 2 was to hold its overnight lending rate at 2.25%. The next interest rate decision will be made on Oct. 28.

Here is the latest data for the central bank's rate decisions since March 2022 — when it started raising rates to curb inflation before cuts began in June 2024 — and the inflation rate for each month. 

Source: Bank of Canada, Statistics Canada

Bank of Canada decision dateInterest rate (%)Change (%)
September 2, 20262.25-
July 15, 20262.25-
June 10, 20262.25-
Apr. 29, 20262.25-
Mar. 18, 20262.25-
Jan. 28, 20262.25-
Dec. 10, 20252.25-
Oct. 29, 20252.25-0.25
Sept. 17, 20252.5-0.25
July 30, 20252.75-
June 4, 20252.75-
Apr. 16, 20252.75-
Mar. 12, 20252.75-0.25
Jan. 29, 20253.00-0.25
Dec. 11, 20243.25-0.50
Oct. 23, 20243.75-0.50
Sept. 4, 20244.25-0.25
July 24, 20244.50-0.25
June 5, 20244.75-0.25
Apr. 10, 20245.00-
Mar. 6, 20245.00-
Jan. 24, 20245.00-
Dec. 6, 20235.00-
Oct. 25, 20235.00-
Sept. 6, 20235.00-
July 12, 20235.00+0.25
June 7, 20234.75+0.25
April 12, 20234.50-
March 8, 20234.50-
Jan. 25, 20234.50+0.25
Dec. 7, 20224.25+0.50
Oct. 26, 20223.75+0.50
Sept. 7, 20223.25+0.75
July 13, 20222.50+1.00
June 1, 20221.50+0.50
April 13, 20221.00+0.50
March 2, 20220.50+0.25
MonthInflation rate (%)
July 20263.0
June 20262.8
May 20263.2
April 20262.8
March 20262.4
February 20261.8
January 20262.3
December 20252.4
November 20252.2
October 20252.2
September 20252.4
August 20251.9
July 20251.7
June 20251.9
May 20251.7
April 20251.7
March 20252.3
February 20252.6
January 20251.9
December 20241.8
November 20241.9
October 20242.0
September 20241.6
August 20242.0
July 20242.5
June 20242.7
May 20242.9
April 20242.7
March 20242.9
February 20242.8
January 20242.9
December 20233.4
November 20233.1
October 20233.1
September 20233.8
August 20234.0
July 20233.3
June 20232.8
May 20233.4
April 20234.4
March 20234.3
February 20235.2
January 20235.9
December 20226.3
November 20226.8
October 20226.9
September 20226.9
August 20227.0
July 20227.6
June 20228.1
May 20227.7
April 20226.8
March 20226.7

These inflation numbers represent the Consumer Price Index (total CPI). As defined by the Bank of Canada, "The Consumer Price Index (CPI) is an indicator of changes in consumer prices experienced by Canadians. It is obtained by comparing, over time, the cost of a fixed basket of goods and services purchased by consumers."

Related Articles

"Abstract photo of modern, angular wooden roof"

Focus on building Canada: Stay-at-home defence

"Abstract photo showing empty barrels"

Market Points: What if the oil shock intensifies? Implications for the Canadian economy and beyond

"Scott Thomson sat down speaking on stage to unseen person"

‘A once-in-a-generation moment’: Scotiabank CEO’s letter to clients