|
|
 |
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 |
|
Graph Canadian interest rate BOC - long-term graph |
|
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
| january 25 2023 |
4.500 % |
| december 07 2022 |
4.250 % |
| october 26 2022 |
3.750 % |
| september 07 2022 |
3.250 % |
| july 13 2022 |
2.500 % |
| june 01 2022 |
1.500 % |
| april 13 2022 |
1.000 % |
| march 02 2022 |
0.500 % |
| march 27 2020 |
0.250 % |
| march 13 2020 |
0.750 % |
|
|
Summary of other central banks’ interest rates
|
|
|
|
|
|