Canada · data to Nov 2026
How are interest rates?
OK.
The Bank of Canada's policy rate is 2.50%. Borrowers are paying more than a few years ago, and savers are earning more.
For context: 2.50% is lower than 73% of all 797 figures since 1960.
Bank of Canada policy rate
The Bank of Canada's key interest rate, which sets the tone for loans and savings
The strip under the chart shows the verdict each period would get by today's rules:Good OK Bad
See the latest numbers
| Period | Value | Verdict |
|---|---|---|
| Nov 2026 | 2.50% | OK |
| Oct 2026 | 2.50% | OK |
| Sep 2026 | 2.25% | Good |
| Aug 2026 | 2.25% | Good |
| Jul 2026 | 2.25% | Good |
| Jun 2026 | 2.25% | Good |
| May 2026 | 2.25% | Good |
| Apr 2026 | 2.25% | Good |
| Mar 2026 | 2.25% | Good |
| Feb 2026 | 2.25% | Good |
| Jan 2026 | 2.25% | Good |
| Dec 2025 | 2.25% | Good |
Source: Bank of Canada, Target for the overnight rate, end of month (Valet API, from 2009; earlier years via the BIS central bank policy rates) · Series V39079; BIS WS_CBPOL M.CA · Latest Nov 2026
How we judged this
What we test: The latest figure (bank of Canada policy rate). Right now that's 2.50%.
- Good if under 2.50%
- OK if from 2.50% to under 4.00%applies now
- Bad if anything the rules above don’t cover
Rules are checked from the top. The first one that fits decides the verdict.
About this data
- Measure
- Bank of Canada policy rate
- Latest
- 2.50% (Nov 2026)
- Published
- Monthly, by Bank of Canada
- Verdict counts for
- Equal weight with the others in the overall verdict
Judged from a borrower's point of view. Savers see it the other way round.
Shows the rate at the end of each month. The Bank of Canada's own series starts in 2009; earlier years show the policy rate of the time, as compiled by the Bank for International Settlements.
Most Canadian mortgages are fixed for a few years, often five, so rate changes reach many households when they renew.