The Bank carries out monetary policy by influencing short-term interest rates. It does this by adjusting the target for the overnight rate on eight fixed dates each year.
For more information on the policy interest rate, see this explainer.
Recent data
| Date* | Target (%) | Change (%) |
|---|---|---|
| July 15, 2026 | 2.25 | — |
| June 10, 2026 | 2.25 | — |
| April 29, 2026 | 2.25 | — |
| March 18, 2026 | 2.25 | — |
| January 28, 2026 | 2.25 | — |
| December 10, 2025 | 2.25 | — |
| October 29, 2025 | 2.25 | -0.25 |
| September 17, 2025 | 2.50 | -0.25 |
| July 30, 2025 | 2.75 | — |
| June 4, 2025 | 2.75 | — |
| April 16, 2025 | 2.75 | — |
| March 12, 2025 | 2.75 | -0.25 |
*As of 2021, a change takes effect the day after its announcement.
See also Market Operations Indicators related to the implementation of monetary policy—including the operating band, settlement balances and other Bank of Canada operations.
| Dates | Publications |
|---|---|
| January 28 | Interest rate announcement and Monetary Policy Report |
| March 18 | Interest rate announcement |
| April 29 | Interest rate announcement and Monetary Policy Report |
| June 10 | Interest rate announcement |
| July 15 | Interest rate announcement and Monetary Policy Report |
| September 2 | Interest rate announcement |
| October 28 | Interest rate announcement and Monetary Policy Report |
| December 9 | Interest rate announcement |
| Dates | Publications |
|---|---|
| January 27 | Interest rate announcement and Monetary Policy Report |
| March 3 | Interest rate announcement |
| April 28 | Interest rate announcement and Monetary Policy Report |
| June 2 | Interest rate announcement |
| July 21 | Interest rate announcement and Monetary Policy Report |
| September 8 | Interest rate announcement |
| October 27 | Interest rate announcement and Monetary Policy Report |
| December 8 | Interest rate announcement |
