Key Interest Rate

• October 26, 2022

  Bank of Canada increases policy interest rate by 50 basis points, continues quantitative tightening

  Media Relations Ottawa, Ontario

  The Bank of Canada today increased its target for the overnight rate to 3¾%, with the Bank Rate at 4% and the deposit rate at 3¾%.

  Content Type(s): Press, Press releases
• October 26, 2022

  Monetary Policy Report – October 2022

  

  While inflation has come off its peak, it remains too high. As the economy responds to higher interest rates and as the effects of elevated commodity prices and supply disruptions fade, the Bank expects inflation to fall to about 3% in late 2023, then return to 2% in 2024.

  Content Type(s): Publications, Monetary Policy Report