Benchmark rate
Target for the overnight rate
The Bank of Canada's policy interest rate. It is the anchor for short-term borrowing costs in Canada and moves only when the Bank changes its setting.
Current published value
Target for the overnight rate
2.25 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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