Canada interest rate
Bank of Canada
- Policy rate
- 2.25%
- Sep 21, 2026
- Last move
- −0.25 pt
- Oct 2025
- Inflation
- 3.0%
- Aug 2026
- 10-year bond yield
- 3.67%
- Aug 2026
The policy rate set by the Bank of Canada is 2.25% as of Sep 21, 2026. Its most recent move: it cut its rate from 2.50% to 2.25% (Oct 2025). The rate is 0.25 percentage points lower than a year earlier. With consumer prices up 3.0% over the 12 months to Aug 2026, the real rate (policy rate minus inflation) is −0.8%: borrowing costs are below inflation.
Policy rate over the past two years
Sep 21, 2026: 2.25%
Rate changes
| When | Decision | From | To | Change |
|---|---|---|---|---|
| Oct 2025 | Cut | 2.50% | 2.25% | −0.25 pt |
| Sep 2025 | Cut | 2.75% | 2.50% | −0.25 pt |
| Mar 2025 | Cut | 3.00% | 2.75% | −0.25 pt |
| Jan 2025 | Cut | 3.25% | 3.00% | −0.25 pt |
| Dec 2024 | Cut | 3.75% | 3.25% | −0.50 pt |
| Oct 2024 | Cut | 4.25% | 3.75% | −0.50 pt |
| Sep 2024 | Cut | 4.50% | 4.25% | −0.25 pt |
Changes between month-end rates, plus the latest daily reading. Two decisions in one month show up as a single change.
Inflation (% vs a year earlier)
Aug 2026: 3.0%
10-year government bond yield
Aug 2026: 3.67%
Other central banks in North America
Source: BIS; inflation: IMF CPI; bond yield: OECD. Updated daily. All central bank rates · Canada economy dashboard