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Reach Canadians the moment they check the rate.
Overnight meets homeowners, savers and borrowers at their highest-intent moment — the day the Bank of Canada moves. Premium, brand-safe placements and official-data partnerships.
The Bank of Canada's target for the overnight rate — often just called "the interest rate" or "the policy rate" — is the single most important number in Canadian personal finance. It's the rate at which major financial institutions lend to each other overnight, and it sets the floor for almost everything else you pay or earn: the prime rate, variable-rate mortgages, home-equity lines of credit, car loans, and the interest on your savings.
When the Bank raises the rate, borrowing gets more expensive — variable mortgage payments climb and the economy cools, which is the point when inflation is running hot. When the Bank cuts the rate, borrowing gets cheaper, payments on variable debt fall, and spending is encouraged. That's why every homeowner, saver and borrower in Canada watches these announcements.
Frequently asked questions
What is the Bank of Canada's interest rate today?
The live figure at the top of this page is pulled from the Bank of Canada's official data and is currently 2.25%. It updates automatically after each rate decision.
When is the next Bank of Canada rate decision?
The Bank announces the rate on eight fixed dates a year, about every six weeks. The next date and a live countdown are shown at the top of this page.
Does the Bank of Canada rate affect my mortgage?
Yes. Variable-rate mortgages and HELOCs move with the policy rate directly. Fixed-rate mortgages are locked for your term, but the rate you're offered at renewal is shaped by where the policy rate and bond yields sit.
Why does the Bank of Canada raise or cut rates?
To manage inflation, which it aims to keep near 2%. It raises rates to cool an overheating economy and cuts them to stimulate a slow one.
What's the difference between the overnight rate and the prime rate?
The Bank sets the overnight rate. Banks then set their prime rate — typically about 2.2 points higher — and price consumer loans like variable mortgages and lines of credit off prime.
Is anything on this page financial advice?
No. Everything here is general information for education and entertainment. Verify current figures with the Bank of Canada and consult a licensed professional before making decisions.
Independent & not affiliated. bankratecanada.ca (Overnight) is an independent website and is not affiliated with, endorsed by or connected to the Bank of Canada, the Government of Canada, Statistics Canada, or any bank or financial institution. “Bank of Canada” and other company, product and service names are trademarks of their respective owners, used for identification only. About the data. The Bank of Canada policy rate is pulled live from the official Bank of Canada Valet API. Economic-calendar dates follow the regular Statistics Canada / Bank of Canada schedule; the sentiment colours are Overnight's plain-English read (opinion), not a forecast. National-debt, provincial-debt, population, home-price and mortgage figures are approximate estimates for illustration only — not official statistics. The money printer and what-if simulator are interactive toys. Nothing here is financial, investment, tax or economic advice. Verify figures with the Bank of Canada, Statistics Canada and the Department of Finance Canada. Sources: Bank of Canada (policy rate & announcement schedule), Statistics Canada (CPI, Labour Force Survey, GDP), Department of Finance Canada (debt). The current rate and next-decision date are verified against the Bank of Canada's published 2026 schedule.
Sources:Bank of Canada — policy & prime rate (pulled live from the Bank of Canada Valet API) · Statistics Canada — inflation (CPI) & employment. Figures update after each official release; reviewed 5 Jul 2026.