What is the Bank of Canada's interest rate?
The Bank of Canada's key interest rate remains steady at 2.25% as of March 2026.
What this measures
The Bank of Canada's interest rate, also known as the bank rate, is the rate at which the central bank lends money to financial institutions. This rate influences borrowing costs for Canadians, including mortgages, loans, and savings rates, impacting spending, investment, and economic growth.
Recent trend in the Bank of Canada's interest rate
The Bank of Canada's interest rate has held steady at 2.25% since March 2026, unchanged from the previous month and the same as a year ago. Over the past two years, the annual average rate has remained consistent at 2.3%, indicating a period of stability in monetary policy. This follows a series of rate hikes in 2022 and 2023 to combat high inflation, which peaked in 2022 but has since eased.
Bank of Canada interest rate trend
Source: Statistics Canada, Table 10,100,139
View data table (2 values)
| Period | Value | Change |
|---|---|---|
| 2026 | 2.3% | 0 |
| 2025 | 2.3% |
Data sources
Narratives are AI-generated from official Statistics Canada data. Verify at source.