🇨🇦 Canadian Calculators
Bank of Canada Rate Tracker
Current overnight rate, full decision history since 2020, and a mortgage payment impact calculator.
BoC Overnight Rate
2.25%
as of June 29, 2026
Prime Rate
4.45%
BoC rate + 2.20%
Next Decision
July 30, 2026
Scheduled date
Change from Peak
-2.75%
vs 5.00% peak (Jul 2023)
Rate Decision History
| Date | Rate | Change | Decision |
|---|---|---|---|
| Jun 4, 2026 | 2.25% | Hold | Hold |
| Apr 16, 2026 | 2.25% | Hold | Hold |
| Mar 12, 2026 | 2.25% | Hold | Hold |
| Jan 28, 2026 | 2.25% | Hold | Hold |
| Dec 10, 2025 | 2.25% | Hold | Hold |
| Oct 29, 2025 | 2.25% | Hold | Hold |
| Sep 17, 2025 | 2.25% | Hold | Hold |
| Jul 30, 2025 | 2.25% | -0.25% | Cut |
| Jun 4, 2025 | 2.50% | -0.25% | Cut |
| Apr 16, 2025 | 2.75% | Hold | Hold |
| Mar 12, 2025 | 2.75% | -0.25% | Cut |
| Jan 29, 2025 | 3.00% | -0.25% | Cut |
| Dec 11, 2024 | 3.25% | -0.50% | Cut |
| Oct 23, 2024 | 3.75% | -0.50% | Cut |
| Sep 4, 2024 | 4.25% | -0.25% | Cut |
| Jul 24, 2024 | 4.50% | -0.25% | Cut |
| Jun 5, 2024 | 4.75% | -0.25% | Cut |
| Apr 10, 2024 | 5.00% | Hold | Hold |
| Mar 6, 2024 | 5.00% | Hold | Hold |
| Jan 24, 2024 | 5.00% | Hold | Hold |
| Dec 6, 2023 | 5.00% | Hold | Hold |
| Oct 25, 2023 | 5.00% | Hold | Hold |
| Sep 6, 2023 | 5.00% | Hold | Hold |
| Jul 12, 2023 | 5.00% | +0.25% | Hike |
| Jun 7, 2023 | 4.75% | +0.25% | Hike |
| Apr 12, 2023 | 4.50% | Hold | Hold |
| Mar 8, 2023 | 4.50% | Hold | Hold |
| Jan 25, 2023 | 4.50% | +0.25% | Hike |
| Dec 7, 2022 | 4.25% | +0.50% | Hike |
| Oct 26, 2022 | 3.75% | +0.50% | Hike |
| Sep 7, 2022 | 3.25% | +0.75% | Hike |
| Jul 13, 2022 | 2.50% | +1.00% | Hike |
| Jun 1, 2022 | 1.50% | +0.50% | Hike |
| Apr 13, 2022 | 1.00% | +0.50% | Hike |
| Mar 2, 2022 | 0.50% | +0.25% | Hike |
| Jan 26, 2022 | 0.25% | Hold | Hold |
| Dec 8, 2021 | 0.25% | Hold | Hold |
| Oct 27, 2021 | 0.25% | Hold | Hold |
| Sep 8, 2021 | 0.25% | Hold | Hold |
| Jul 14, 2021 | 0.25% | Hold | Hold |
| Jun 9, 2021 | 0.25% | Hold | Hold |
| Apr 21, 2021 | 0.25% | Hold | Hold |
| Mar 10, 2021 | 0.25% | Hold | Hold |
| Jan 20, 2021 | 0.25% | Hold | Hold |
| Dec 9, 2020 | 0.25% | Hold | Hold |
| Oct 28, 2020 | 0.25% | Hold | Hold |
| Sep 9, 2020 | 0.25% | Hold | Hold |
| Jul 15, 2020 | 0.25% | Hold | Hold |
| Jun 3, 2020 | 0.25% | Hold | Hold |
| Apr 15, 2020 | 0.25% | Hold | Hold |
| Mar 27, 2020 | 0.25% | -0.50% | Cut |
| Mar 13, 2020 | 0.75% | -0.50% | Cut |
| Mar 4, 2020 | 1.25% | -0.50% | Cut |
| Jan 22, 2020 | 1.75% | Hold | Hold |
Rate Change Impact
$
Monthly payment change
2026 Decision Dates
January 29, 2026
March 12, 2026
April 16, 2026
June 4, 2026
July 30, 2026 ← next
September 17, 2026
October 29, 2026
December 10, 2026
BoC Rate FAQs
The Bank of Canada holds 8 scheduled meetings per year, approximately every 6–7 weeks. Decisions and the accompanying Monetary Policy Report are published at 9:45 AM ET. Emergency meetings are rare.
Variable-rate mortgages are priced at prime ± a spread. Canadian banks set their prime rate at BoC overnight + 2.20%. When the BoC cuts by 0.25%, prime drops by 0.25%, and your variable mortgage rate and payment drop accordingly — typically within a few business days.
The prime rate is currently 4.45% (BoC overnight rate of 2.25% + 2.20%). The prime rate is what banks charge their most creditworthy customers and serves as the reference rate for variable-rate mortgages and HELOCs.