Benchmark rate
Bank Rate
The rate the Bank of Canada charges on one-day loans to financial institutions. It normally sits at the top of the operating band for the overnight rate.
Current published value
Bank Rate
2.5 percent per year
Benchmark rates are inputs to pricing, not offers. A lender sets your rate by adding its own spread and risk premium to a benchmark like this one, and the result depends on your credit profile, income and security.
Other benchmark series
| Series | Value | As of |
|---|---|---|
| Target for the overnight rate | 2.25 percent per year | 2026-09-16 |
| Bank Rate | 2.5 percent per year | 2025-10-30 |
| Prime business rate | 4.45 percent per year | 2026-09-16 |
| Government of Canada 2-year benchmark bond yield | 3.35 percent per year | 2026-09-16 |
| Government of Canada 5-year benchmark bond yield | 3.64 percent per year | 2026-09-16 |
| Government of Canada 10-year benchmark bond yield | 3.92 percent per year | 2026-09-16 |
| Conventional 5-year mortgage rate | 6.09 percent per year | 2026-09-16 |
This is an official statistical publication, not a commercial link.
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