In 2001, the Bank of Canada's target for the overnight rate was around 2.25% — the same as today's 2.25%. See the full path on the rate history chart and the year-by-year overview.
In 2001 the Bank of Canada's target overnight rate was about 2.25%. That was the same as today's 2.25%, reflecting the inflation and growth conditions of that year. Variable mortgage rates moved with this policy rate.
The 2.25% target in 2001 reflected the inflation and growth conditions of that period. Compared with today's 2.25%, borrowing costs then were the same as what Canadians pay now. Fixed mortgage rates that year tracked Government of Canada bond yields, while variable rates moved with this policy rate.
This is an approximate, illustrative figure for context — verify exact historical rates and change dates with the Bank of Canada's published data.
Approximately 2.25% (verify exact dates with the Bank of Canada).