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Canadian Research Economic DataCRED

Bank of Canada Policy Interest Rate

(POLICY_RATE)
Observations
Sep 2026: 2.25
Updated: 2026-10-09, 4:57:24 a.m. ET
Units
Percent,
Target for the overnight rate, end of month
Frequency
Monthly
Source
Bank of Canada, Valet
Series ID
POLICY_RATE
Valet STATIC_ATABLE_V39079
CREDBank of Canada Policy Interest Rate
COVID-19 recessionGlobal Financial Crisis012345619962000200420082012201620202024Percent1996-01-01: 5.561996-02-01: 5.191996-03-01: 51996-04-01: 4.751996-05-01: 4.751996-06-01: 4.751996-07-01: 4.51996-08-01: 41996-09-01: 41996-10-01: 3.251996-11-01: 31996-12-01: 31997-01-01: 31997-02-01: 31997-03-01: 31997-04-01: 31997-05-01: 31997-06-01: 3.251997-07-01: 3.251997-08-01: 3.251997-09-01: 3.251997-10-01: 3.51997-11-01: 3.751997-12-01: 4.251998-01-01: 4.751998-02-01: 4.751998-03-01: 4.751998-04-01: 4.751998-05-01: 4.751998-06-01: 4.751998-07-01: 4.751998-08-01: 5.751998-09-01: 5.51998-10-01: 5.251998-11-01: 51998-12-01: 51999-01-01: 51999-02-01: 51999-03-01: 4.751999-04-01: 4.751999-05-01: 4.51999-06-01: 4.51999-07-01: 4.51999-08-01: 4.51999-09-01: 4.51999-10-01: 4.51999-11-01: 4.751999-12-01: 4.752000-01-01: 4.752000-02-01: 52000-03-01: 5.252000-04-01: 5.252000-05-01: 5.752000-06-01: 5.752000-07-01: 5.752000-08-01: 5.752000-09-01: 5.752000-10-01: 5.752000-11-01: 5.752000-12-01: 5.752001-01-01: 5.52001-02-01: 5.52001-03-01: 52001-04-01: 4.752001-05-01: 4.52001-06-01: 4.52001-07-01: 4.252001-08-01: 42001-09-01: 3.52001-10-01: 2.752001-11-01: 2.252001-12-01: 2.252002-01-01: 22002-02-01: 22002-03-01: 22002-04-01: 2.252002-05-01: 2.252002-06-01: 2.52002-07-01: 2.752002-08-01: 2.752002-09-01: 2.752002-10-01: 2.752002-11-01: 2.752002-12-01: 2.752003-01-01: 2.752003-02-01: 2.752003-03-01: 32003-04-01: 3.252003-05-01: 3.252003-06-01: 3.252003-07-01: 32003-08-01: 32003-09-01: 2.752003-10-01: 2.752003-11-01: 2.752003-12-01: 2.752004-01-01: 2.52004-02-01: 2.52004-03-01: 2.252004-04-01: 22004-05-01: 22004-06-01: 22004-07-01: 22004-08-01: 22004-09-01: 2.252004-10-01: 2.52004-11-01: 2.52004-12-01: 2.52005-01-01: 2.52005-02-01: 2.52005-03-01: 2.52005-04-01: 2.52005-05-01: 2.52005-06-01: 2.52005-07-01: 2.52005-08-01: 2.52005-09-01: 2.752005-10-01: 32005-11-01: 32005-12-01: 3.252006-01-01: 3.52006-02-01: 3.52006-03-01: 3.752006-04-01: 42006-05-01: 4.252006-06-01: 4.252006-07-01: 4.252006-08-01: 4.252006-09-01: 4.252006-10-01: 4.252006-11-01: 4.252006-12-01: 4.252007-01-01: 4.252007-02-01: 4.252007-03-01: 4.252007-04-01: 4.252007-05-01: 4.252007-06-01: 4.252007-07-01: 4.52007-08-01: 4.52007-09-01: 4.52007-10-01: 4.52007-11-01: 4.52007-12-01: 4.252008-01-01: 42008-02-01: 42008-03-01: 3.52008-04-01: 32008-05-01: 32008-06-01: 32008-07-01: 32008-08-01: 32008-09-01: 32008-10-01: 2.252008-11-01: 2.252008-12-01: 1.52009-01-01: 12009-02-01: 12009-03-01: 0.52009-04-01: 0.252009-05-01: 0.252009-06-01: 0.252009-07-01: 0.252009-08-01: 0.252009-09-01: 0.252009-10-01: 0.252009-11-01: 0.252009-12-01: 0.252010-01-01: 0.252010-02-01: 0.252010-03-01: 0.252010-04-01: 0.252010-05-01: 0.252010-06-01: 0.52010-07-01: 0.752010-08-01: 0.752010-09-01: 12010-10-01: 12010-11-01: 12010-12-01: 12011-01-01: 12011-02-01: 12011-03-01: 12011-04-01: 12011-05-01: 12011-06-01: 12011-07-01: 12011-08-01: 12011-09-01: 12011-10-01: 12011-11-01: 12011-12-01: 12012-01-01: 12012-02-01: 12012-03-01: 12012-04-01: 12012-05-01: 12012-06-01: 12012-07-01: 12012-08-01: 12012-09-01: 12012-10-01: 12012-11-01: 12012-12-01: 12013-01-01: 12013-02-01: 12013-03-01: 12013-04-01: 12013-05-01: 12013-06-01: 12013-07-01: 12013-08-01: 12013-09-01: 12013-10-01: 12013-11-01: 12013-12-01: 12014-01-01: 12014-02-01: 12014-03-01: 12014-04-01: 12014-05-01: 12014-06-01: 12014-07-01: 12014-08-01: 12014-09-01: 12014-10-01: 12014-11-01: 12014-12-01: 12015-01-01: 0.752015-02-01: 0.752015-03-01: 0.752015-04-01: 0.752015-05-01: 0.752015-06-01: 0.752015-07-01: 0.52015-08-01: 0.52015-09-01: 0.52015-10-01: 0.52015-11-01: 0.52015-12-01: 0.52016-01-01: 0.52016-02-01: 0.52016-03-01: 0.52016-04-01: 0.52016-05-01: 0.52016-06-01: 0.52016-07-01: 0.52016-08-01: 0.52016-09-01: 0.52016-10-01: 0.52016-11-01: 0.52016-12-01: 0.52017-01-01: 0.52017-02-01: 0.52017-03-01: 0.52017-04-01: 0.52017-05-01: 0.52017-06-01: 0.52017-07-01: 0.752017-08-01: 0.752017-09-01: 12017-10-01: 12017-11-01: 12017-12-01: 12018-01-01: 1.252018-02-01: 1.252018-03-01: 1.252018-04-01: 1.252018-05-01: 1.252018-06-01: 1.252018-07-01: 1.52018-08-01: 1.52018-09-01: 1.52018-10-01: 1.752018-11-01: 1.752018-12-01: 1.752019-01-01: 1.752019-02-01: 1.752019-03-01: 1.752019-04-01: 1.752019-05-01: 1.752019-06-01: 1.752019-07-01: 1.752019-08-01: 1.752019-09-01: 1.752019-10-01: 1.752019-11-01: 1.752019-12-01: 1.752020-01-01: 1.752020-02-01: 1.752020-03-01: 0.252020-04-01: 0.252020-05-01: 0.252020-06-01: 0.252020-07-01: 0.252020-08-01: 0.252020-09-01: 0.252020-10-01: 0.252020-11-01: 0.252020-12-01: 0.252021-01-01: 0.252021-02-01: 0.252021-03-01: 0.252021-04-01: 0.252021-05-01: 0.252021-06-01: 0.252021-07-01: 0.252021-08-01: 0.252021-09-01: 0.252021-10-01: 0.252021-11-01: 0.252021-12-01: 0.252022-01-01: 0.252022-02-01: 0.252022-03-01: 0.52022-04-01: 12022-05-01: 12022-06-01: 1.52022-07-01: 2.52022-08-01: 2.52022-09-01: 3.252022-10-01: 3.752022-11-01: 3.752022-12-01: 4.252023-01-01: 4.52023-02-01: 4.52023-03-01: 4.52023-04-01: 4.52023-05-01: 4.52023-06-01: 4.752023-07-01: 52023-08-01: 52023-09-01: 52023-10-01: 52023-11-01: 52023-12-01: 52024-01-01: 52024-02-01: 52024-03-01: 52024-04-01: 52024-05-01: 52024-06-01: 4.752024-07-01: 4.52024-08-01: 4.52024-09-01: 4.252024-10-01: 3.752024-11-01: 3.752024-12-01: 3.252025-01-01: 32025-02-01: 32025-03-01: 2.752025-04-01: 2.752025-05-01: 2.752025-06-01: 2.752025-07-01: 2.752025-08-01: 2.752025-09-01: 2.52025-10-01: 2.252025-11-01: 2.252025-12-01: 2.252026-01-01: 2.252026-02-01: 2.252026-03-01: 2.252026-04-01: 2.252026-05-01: 2.252026-06-01: 2.252026-07-01: 2.252026-08-01: 2.252026-09-01: 2.25
Source: Bank of Canada, Valet via CRED
Shaded areas indicate Canadian recessions (C.D. Howe Institute).
Share Graph
Xfrin

Notes

Source: Bank of Canada

Release: Policy interest rate

Units: Percent, Target for the overnight rate, end of month

Frequency: Monthly

Notes: The Bank of Canada's target for the overnight rate, the policy instrument set at each of the Bank's eight scheduled decision dates per year. It anchors the prime rates banks charge households and businesses, transmitting monetary policy through mortgages and business credit. This series carries the month-end target value.

Suggested Citation: Bank of Canada, Bank of Canada Policy Interest Rate POLICY_RATE, retrieved from CRED, Canadian Research Economic Data; https://cred.nshipyard.com/series/POLICY_RATE, October 9, 2026.