Key Interest Rate

• December 7, 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 4¼%, with the Bank Rate at 4½% and the deposit rate at 4¼%.

  Content Type(s): Press, Press releases
• 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
• September 7, 2022

  Bank of Canada increases policy interest rate by 75 basis points, continues quantitative tightening

  Media Relations Ottawa, Ontario

  The Bank of Canada today increased its target for the overnight rate to 3¼%, with the Bank Rate at 3½% and the deposit rate at 3¼%.

  Content Type(s): Press, Press releases
• July 13, 2022

  Bank of Canada increases policy interest rate by 100 basis points, continues quantitative tightening

  Media Relations Ottawa, Ontario

  The Bank of Canada today increased its target for the overnight rate to 2½%, with the Bank Rate at 2¾% and the deposit rate at 2½%.

  Content Type(s): Press, Press releases
• July 13, 2022

  Monetary Policy Report – July 2022

  

  The Canadian economy is now clearly in excess demand, and inflation is high and broadening. The Bank is projecting inflation to decline to about 3% by the end of 2023, and to return to the 2% target by the end of 2024.

  Content Type(s): Publications, Monetary Policy Report
• June 1, 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 1½%, with the Bank Rate at 1¾% and the deposit rate at 1½%.

  Content Type(s): Press, Press releases
• April 13, 2022

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

  Media Relations Ottawa, Ontario

  The Bank of Canada today increased its target for the overnight rate to 1%, with the Bank Rate at 1¼% and the deposit rate at 1%.

  Content Type(s): Press, Press releases
• April 13, 2022

  Monetary Policy Report – April 2022

  

  Canadian economic activity remains strong, and employment is robust. The Bank is forecasting growth of about 4¼% in 2022, easing to 3¼% in 2023.

  Content Type(s): Publications, Monetary Policy Report
• March 2, 2022

  Bank of Canada increases policy interest rate

  Media Relations Ottawa, Ontario

  The Bank of Canada today increased its target for the overnight rate to ½ %, with the Bank Rate at ¾ % and the deposit rate at ½ %.

  Content Type(s): Press, Press releases