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BOC key interest rate - Canadian central bank’s interest rate
Charts - historic Bank of Canada interest rates
Graph Canadian interest rate BOC - interest rates last year |
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Graph Canadian interest rate BOC - long-term graph |
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Bank of Canada
The Bank of Canada (BOC) is the Canadian central bank. The BOC’s most important objective is to maintain the value of Canadian money by keeping inflation low and stable (between 1 and 3%). For an overview of current inflation in Canada, click here. The bank also strives for a stable, secure currency, financial stability and the most efficient management of public funds and public borrowings possible.
Key interest rate
When reference is made to the Canadian interest rate this often refers to the key interest rate. This interest rate is also called the key policy rate or the overnight rate. It is the Canadian base rate at which banks and other financial institutions can borrow money for a period of 1 day (overnight). The Bank of Canada sets a target for the level of the rate: the target for the overnight rate. If the Canadian central bank has set a new target for the level of the key interest rate this will usually also lead to a change in the interest rates for loans, mortgages and savings. It can also have an effect on the exchange rate of the Canadian dollar.
This page shows the current and historic value of the BOC’s key interest rate.
For a summary of the current interest rates of a large number of central banks please click here.
Tables - current and historic Canadian central bank interest rates
BOC latest interest rate changes
| september 08 2010 |
1.000 % |
| july 20 2010 |
0.750 % |
| june 01 2010 |
0.500 % |
| april 21 2009 |
0.250 % |
| march 03 2009 |
0.500 % |
| january 20 2009 |
1.000 % |
| december 09 2008 |
1.500 % |
| october 21 2008 |
2.250 % |
| october 08 2008 |
2.500 % |
| april 22 2008 |
3.000 % |
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Summary of other central banks’ interest rates
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