The approximate target overnight rate for each year since 2000. For the full path and every change, see the rate history chart.
The Bank of Canada's target overnight rate has ranged from an emergency low of 0.25% (2009, 2020-2021) to a peak of 5.00% in 2023. It sits at 2.25% in 2026 after a series of cuts, the last on October 29, 2025.