HomeRates
Bank of Canada interest rates
The current policy rate, every upcoming announcement date, and every past decision. Pulled straight from the Bank of Canada.
Bank of Canada policy rate
2.50%
Set at the Wed, Oct 28, 2026 announcement
Last verified Sun, Nov 1, 2026
Next announcement
Upcoming
9:45 a.m. ET
What a rate change means for your mortgage
- Variable-rate mortgages and lines of credit. Lenders' prime rates normally move with the policy rate, usually within a day, so your interest costs can change.
- Fixed-rate mortgages. These are priced mainly off Government of Canada bond yields, so they don't move one-for-one with the policy rate. If you're already in a fixed term, nothing changes until you renew.
- Renewing in the next year? It's a good time to review your options early, before your lender's offer arrives.
Policy rate over time
Upcoming announcements
| Date | Time | Report |
|---|---|---|
| Loading dates… | ||
"Report" means the Bank also publishes its Monetary Policy Report that day.
Past announcements
| Date | Decision | Rate | Report |
|---|---|---|---|
| Loading decisions… | |||
Every rate change since 2000
| Effective | Change | New rate |
|---|
Source: Bank of Canada (policy rate data and announcement schedule). Rate changes take effect the day after each announcement. R2 Mortgage Partners is not affiliated with the Bank of Canada. General information only, not advice specific to your situation.
Thinking about your next mortgage move?
Rates change. We'll help you understand what it means for you.
Stay in the loop