Key Interest Rate

• October 25, 2023

  Bank of Canada maintains policy rate, continues quantitative tightening

  Media Relations Ottawa, Ontario

  The Bank of Canada today held its target for the overnight rate at 5%, with the Bank Rate at 5¼% and the deposit rate at 5%.

  Content Type(s): Press, Press releases
• October 25, 2023

  Monetary Policy Report – October 2023

  

  Higher interest rates are working to ease price pressures in Canada and inflation is coming down, though progress to the 2% target is slow. The Bank projects that inflation will stay around 3½% until the middle of 2024, returning to target in 2025.

  Content Type(s): Publications, Monetary Policy Report