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CRED

Bank of Canada Policy Interest Rate

(POLICY_RATE)
Observations
Sep 2026: 2.25
Updated: 2026-11-02, 5:44:07 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 Crisis012345619962000200420082012201620202026Percent1996-01-01: 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).
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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, November 2, 2026.

Release Tables

Related Data and Content

Data Suggestions Based On Your Search

CREDOvernight Money Market Rate
COVID-19 recession00.511.522.533.544.555.5201620182020202220242026Percent2016-11-01: 0.48932016-12-01: 0.49362017-01-01: 0.48852017-02-01: 0.48872017-03-01: 0.50032017-04-01: 0.49532017-05-01: 0.48862017-06-01: 0.49412017-07-01: 0.74142017-08-01: 0.74732017-09-01: 0.99412017-10-01: 0.99552017-11-01: 0.99162017-12-01: 0.9972018-01-01: 1.24612018-02-01: 1.23672018-03-01: 1.24572018-04-01: 1.24612018-05-01: 1.24342018-06-01: 1.24642018-07-01: 1.49482018-08-01: 1.49612018-09-01: 1.49792018-10-01: 1.74762018-11-01: 1.74732018-12-01: 1.75162019-01-01: 1.74622019-02-01: 1.74552019-03-01: 1.74612019-04-01: 1.74592019-05-01: 1.7452019-06-01: 1.74292019-07-01: 1.74692019-08-01: 1.74812019-09-01: 1.74542019-10-01: 1.74722019-11-01: 1.74872019-12-01: 1.74792020-01-01: 1.74872020-02-01: 1.74852020-03-01: 0.74062020-04-01: 0.23412020-05-01: 0.23792020-06-01: 0.23272020-07-01: 0.24072020-08-01: 0.23372020-09-01: 0.21812020-10-01: 0.23372020-11-01: 0.23362020-12-01: 0.17412021-01-01: 0.18262021-02-01: 0.21432021-03-01: 0.15292021-04-01: 0.16692021-05-01: 0.18722021-06-01: 0.18732021-07-01: 0.1932021-08-01: 0.20262021-09-01: 0.18242021-10-01: 0.20252021-11-01: 0.20782021-12-01: 0.12742022-01-01: 0.18112022-02-01: 0.17542022-03-01: 0.44032022-04-01: 0.92082022-05-01: 0.94862022-06-01: 1.44792022-07-01: 2.46562022-08-01: 2.48122022-09-01: 3.2132022-10-01: 3.23482022-11-01: 3.74772022-12-01: 4.24982023-01-01: 4.24512023-02-01: 4.47642023-03-01: 4.49682023-04-01: 4.49242023-05-01: 4.49292023-06-01: 4.73632023-07-01: 4.99152023-08-01: 4.9972023-09-01: 4.99062023-10-01: 5.01052023-11-01: 5.01392023-12-01: 5.02182024-01-01: 5.02992024-02-01: 5.00172024-03-01: 5.0052024-04-01: 4.99732024-05-01: 5.00252024-06-01: 4.76352024-07-01: 4.5082024-08-01: 4.51492024-09-01: 4.26622024-10-01: 3.77742024-11-01: 3.75822024-12-01: 3.27692025-01-01: 3.27232025-02-01: 2.9832025-03-01: 2.73852025-04-01: 2.73772025-05-01: 2.74342025-06-01: 2.74412025-07-01: 2.7472025-08-01: 2.75982025-09-01: 2.52792025-10-01: 2.50012025-11-01: 2.23392025-12-01: 2.27112026-01-01: 2.24912026-02-01: 2.24922026-03-01: 2.26492026-04-01: 2.26592026-05-01: 2.24222026-06-01: 2.28752026-07-01: 2.25992026-08-01: 2.23612026-09-01: 2.27892026-10-01: 2.2339
Source: Bank of Canada, Valet via CRED
Shaded areas indicate Canadian recessions (C.D. Howe Institute).
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Overnight Money Market Rate

CREDCORRA
2.242.262.282.32.322.342.362.382.42.422.442.462.482.5May 2026May 2026Jun 2026Jun 2026Jul 2026Jul 2026Aug 2026Aug 2026Sep 2026Sep 2026Oct 2026Oct 2026Percent2026-05-07: 2.272026-05-08: 2.262026-05-11: 2.252026-05-12: 2.252026-05-13: 2.252026-05-14: 2.252026-05-15: 2.252026-05-19: 2.252026-05-20: 2.262026-05-21: 2.262026-05-22: 2.262026-05-25: 2.272026-05-26: 2.272026-05-27: 2.252026-05-28: 2.252026-05-29: 2.252026-06-01: 2.262026-06-02: 2.262026-06-03: 2.282026-06-04: 2.262026-06-05: 2.262026-06-08: 2.262026-06-09: 2.262026-06-10: 2.252026-06-11: 2.272026-06-12: 2.272026-06-15: 2.272026-06-16: 2.282026-06-17: 2.292026-06-18: 2.32026-06-19: 2.332026-06-22: 2.32026-06-23: 2.32026-06-24: 2.32026-06-25: 2.312026-06-26: 2.322026-06-29: 2.312026-06-30: 2.342026-07-02: 2.32026-07-03: 2.312026-07-06: 2.312026-07-07: 2.282026-07-08: 2.282026-07-09: 2.292026-07-10: 2.32026-07-13: 2.32026-07-14: 2.282026-07-15: 2.312026-07-16: 2.32026-07-17: 2.292026-07-20: 2.292026-07-21: 2.292026-07-22: 2.282026-07-23: 2.272026-07-24: 2.282026-07-27: 2.282026-07-28: 2.282026-07-29: 2.312026-07-30: 2.312026-07-31: 2.372026-08-04: 2.332026-08-05: 2.312026-08-06: 2.32026-08-07: 2.32026-08-10: 2.282026-08-11: 2.272026-08-12: 2.272026-08-13: 2.272026-08-14: 2.262026-08-17: 2.272026-08-18: 2.262026-08-19: 2.262026-08-20: 2.252026-08-21: 2.252026-08-24: 2.252026-08-25: 2.252026-08-26: 2.252026-08-27: 2.252026-08-28: 2.252026-08-31: 2.272026-09-01: 2.292026-09-02: 2.32026-09-03: 2.32026-09-04: 2.292026-09-08: 2.292026-09-09: 2.292026-09-10: 2.32026-09-11: 2.32026-09-14: 2.282026-09-15: 2.292026-09-16: 2.292026-09-17: 2.292026-09-18: 2.292026-09-21: 2.292026-09-22: 2.292026-09-23: 2.292026-09-24: 2.32026-09-25: 2.32026-09-28: 2.32026-09-29: 2.312026-10-01: 2.32026-10-02: 2.32026-10-05: 2.292026-10-06: 2.292026-10-07: 2.292026-10-08: 2.282026-10-09: 2.282026-10-13: 2.282026-10-14: 2.272026-10-15: 2.272026-10-16: 2.262026-10-19: 2.262026-10-20: 2.252026-10-21: 2.252026-10-22: 2.252026-10-23: 2.242026-10-26: 2.242026-10-27: 2.242026-10-28: 2.242026-10-29: 2.49
Source: Bank of Canada, Valet via CRED
Shaded areas indicate Canadian recessions (C.D. Howe Institute).
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CORRA

CRED2-Year Government of Canada Bond Yield
2.72.82.933.13.23.33.43.5May 2026May 2026Jun 2026Jun 2026Jul 2026Jul 2026Aug 2026Aug 2026Sep 2026Sep 2026Oct 2026Oct 2026Percent2026-05-07: 2.942026-05-08: 2.862026-05-11: 2.932026-05-12: 2.972026-05-13: 2.962026-05-14: 2.962026-05-15: 3.072026-05-19: 3.042026-05-20: 2.932026-05-21: 2.912026-05-22: 2.922026-05-25: 2.842026-05-26: 2.842026-05-27: 2.862026-05-28: 2.842026-05-29: 2.772026-06-01: 2.812026-06-02: 2.82026-06-03: 2.812026-06-04: 2.82026-06-05: 2.872026-06-08: 2.872026-06-09: 2.852026-06-10: 2.832026-06-11: 2.772026-06-12: 2.762026-06-15: 2.762026-06-16: 2.752026-06-17: 2.822026-06-18: 2.782026-06-19: 2.782026-06-22: 2.812026-06-23: 2.782026-06-24: 2.732026-06-25: 2.752026-06-26: 2.752026-06-29: 2.732026-06-30: 2.742026-07-02: 2.762026-07-03: 2.752026-07-06: 2.722026-07-07: 2.82026-07-08: 2.852026-07-09: 2.82026-07-10: 2.822026-07-13: 2.882026-07-14: 2.862026-07-15: 2.822026-07-16: 2.832026-07-17: 2.862026-07-20: 2.842026-07-21: 2.822026-07-22: 2.892026-07-23: 2.962026-07-24: 2.92026-07-27: 2.872026-07-28: 2.842026-07-29: 2.852026-07-30: 2.852026-07-31: 2.912026-08-04: 2.832026-08-05: 2.822026-08-06: 2.922026-08-07: 2.962026-08-10: 3.022026-08-11: 3.012026-08-12: 2.982026-08-13: 2.922026-08-14: 2.962026-08-17: 2.972026-08-18: 2.962026-08-19: 2.982026-08-20: 3.022026-08-21: 3.032026-08-24: 2.962026-08-25: 2.92026-08-26: 2.932026-08-27: 2.962026-08-28: 3.012026-08-31: 3.012026-09-01: 3.012026-09-02: 3.112026-09-03: 3.12026-09-04: 3.082026-09-08: 3.132026-09-09: 3.162026-09-10: 3.312026-09-11: 3.352026-09-14: 3.372026-09-15: 3.352026-09-16: 3.352026-09-17: 3.272026-09-18: 3.322026-09-21: 3.292026-09-22: 3.252026-09-23: 3.42026-09-24: 3.392026-09-25: 3.352026-09-28: 3.372026-09-29: 3.372026-10-01: 3.272026-10-02: 3.252026-10-05: 3.262026-10-06: 3.232026-10-07: 3.232026-10-08: 3.242026-10-09: 3.182026-10-13: 3.192026-10-14: 3.212026-10-15: 3.22026-10-16: 3.212026-10-19: 3.332026-10-20: 3.322026-10-21: 3.322026-10-22: 3.222026-10-23: 3.332026-10-26: 3.372026-10-27: 3.362026-10-28: 3.412026-10-29: 3.36
Source: Bank of Canada, Valet via CRED
Shaded areas indicate Canadian recessions (C.D. Howe Institute).
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2-Year Government of Canada Bond Yield

CRED5-Year Government of Canada Bond Yield
33.13.23.33.43.53.63.7May 2026May 2026Jun 2026Jun 2026Jul 2026Jul 2026Aug 2026Aug 2026Sep 2026Sep 2026Oct 2026Oct 2026Percent2026-05-07: 3.182026-05-08: 3.122026-05-11: 3.192026-05-12: 3.242026-05-13: 3.232026-05-14: 3.222026-05-15: 3.362026-05-19: 3.352026-05-20: 3.232026-05-21: 3.192026-05-22: 3.22026-05-25: 3.112026-05-26: 3.122026-05-27: 3.142026-05-28: 3.12026-05-29: 3.052026-06-01: 3.082026-06-02: 3.072026-06-03: 3.082026-06-04: 3.082026-06-05: 3.142026-06-08: 3.182026-06-09: 3.152026-06-10: 3.132026-06-11: 3.052026-06-12: 3.042026-06-15: 3.042026-06-16: 3.032026-06-17: 3.082026-06-18: 3.042026-06-19: 3.042026-06-22: 3.092026-06-23: 3.062026-06-24: 2.992026-06-25: 3.022026-06-26: 3.022026-06-29: 32026-06-30: 3.012026-07-02: 3.062026-07-03: 3.062026-07-06: 3.032026-07-07: 3.112026-07-08: 3.182026-07-09: 3.122026-07-10: 3.132026-07-13: 3.192026-07-14: 3.182026-07-15: 3.142026-07-16: 3.152026-07-17: 3.182026-07-20: 3.182026-07-21: 3.162026-07-22: 3.222026-07-23: 3.282026-07-24: 3.222026-07-27: 3.192026-07-28: 3.162026-07-29: 3.192026-07-30: 3.192026-07-31: 3.272026-08-04: 3.172026-08-05: 3.172026-08-06: 3.222026-08-07: 3.262026-08-10: 3.342026-08-11: 3.322026-08-12: 3.32026-08-13: 3.232026-08-14: 3.282026-08-17: 3.312026-08-18: 3.292026-08-19: 3.32026-08-20: 3.352026-08-21: 3.362026-08-24: 3.282026-08-25: 3.222026-08-26: 3.262026-08-27: 3.32026-08-28: 3.342026-08-31: 3.332026-09-01: 3.352026-09-02: 3.422026-09-03: 3.412026-09-04: 3.42026-09-08: 3.442026-09-09: 3.482026-09-10: 3.632026-09-11: 3.652026-09-14: 3.652026-09-15: 3.652026-09-16: 3.642026-09-17: 3.542026-09-18: 3.592026-09-21: 3.572026-09-22: 3.542026-09-23: 3.692026-09-24: 3.692026-09-25: 3.652026-09-28: 3.682026-09-29: 3.692026-10-01: 3.622026-10-02: 3.62026-10-05: 3.632026-10-06: 3.592026-10-07: 3.62026-10-08: 3.62026-10-09: 3.542026-10-13: 3.552026-10-14: 3.552026-10-15: 3.532026-10-16: 3.542026-10-19: 3.642026-10-20: 3.622026-10-21: 3.622026-10-22: 3.52026-10-23: 3.562026-10-26: 3.582026-10-27: 3.572026-10-28: 3.622026-10-29: 3.58
Source: Bank of Canada, Valet via CRED
Shaded areas indicate Canadian recessions (C.D. Howe Institute).
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