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CANADA · THE POLICY DESK

A rate change.
A clearer next move.

Follow the official decision. Explore what it could mean for your numbers. Keep the assumptions in view.

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Mitey sitting beside the policy decision desk
LATEST REVIEWED DECISION2.50%

+25 basis points

Announced October 28, 2026
Effective October 29
Next scheduled decisionDecember 9, 2026
A QUICK WHAT-IF

What does that move mean in dollars?

Hold the balance constant and estimate one month’s interest difference.

+$62.50per month · interest only
See the method

Balance × basis points ÷ 10,000 ÷ 12, rounded to CAD cents. It assumes your lender passes through the entered change and that the balance stays constant. It is not a mortgage payment calculation.

Use the payment and savings worksheets
Target for the overnight rate Reviewed snapshot · %
Bank of Canada policy target at ten announcementsTarget2.50% September2025,2.25% October2025 through September2026,2.50% October2026. Exact dates and changes are in the table below.2.252.502.75Sep 2025Oct 2026

A policy snapshot, checked November 5, 2026. Lenders set their own retail rates.

Announcement dates · target percent · change in basis points
AnnouncedTargetChange
2.50%+25 bp
2.25%Held
2.25%Held
2.25%Held
All ten announcements
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What actually changes?

Policy, prime and contract rates explained.

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