The Bank of Canada's target overnight lending rate is 5%. The central bank's latest rate decision on Apr. 10 was to hold steady. The next interest rate decision will be made on June 5.
Here is the latest data for the central bank's rate decisions since March 2022 — when it began raising rates to curb inflation — and the inflation rate for that month.
Source: Bank of Canada, Statistics Canada
| Bank of Canada decision date | Interest rate (%) | Change (%) | Inflation rate (%) |
| Apr. 10, 2024 | 5.00 | - | TBA |
| Mar. 6, 2024 | 5.00 | - | 2.9 |
| Jan. 24, 2024 | 5.00 | - | 2.9 |
| Dec. 6, 2023 | 5.00 | - | 3.4 |
| Oct. 25, 2023 | 5.00 | - | 3.1 |
| Sept. 6, 2023 | 5.00 | - | 3.8 |
| July 12, 2023 | 5.00 | +0.25 | 3.3 |
| June 7, 2023 | 4.75 | +0.25 | 2.8 |
| April 12, 2023 | 4.50 | - | 4.4 |
| March 8, 2023 | 4.50 | - | 4.3 |
| Jan. 25, 2023 | 4.50 | +0.25 | 5.9 |
| Dec. 7, 2022 | 4.25 | +0.50 | 6.3 |
| Oct. 26, 2022 | 3.75 | +0.50 | 6.9 |
| Sept. 7, 2022 | 3.25 | +0.75 | 6.9 |
| July 13, 2022 | 2.50 | +1.00 | 7.6 |
| June 1, 2022 | 1.50 | +0.50 | 8.1 |
| April 13, 2022 | 1.00 | +0.50 | 6.8 |
| March 2, 2022 | 0.50 | +0.25 | 6.7 |