Bank of Canada Rates over the Past 5 Years

2023-02-07


The Bank of Canada’s policy rate is currently at 4.5%, which causes Canadian prime rates to increase to 6.7%.

Here is a table summarizing the historical changes in the Bank of Canada’s policy rate and prime rate over the past five years:

Date Policy Rate Prime Rate
2023 4.50% 6.70%
Dec 2022 4.25% 6.45%
Oct 2022 3.75% 5.95%
July 2022 2.5% 4.7%
June 2022 1.5% 3.7%
April 2022 1.0% 2.7%
2021 No change No change
March 2020 0.25% 2.45%
2019 No change No change

Policy Rate = Target for the Overnight Rate


(By www.Canada123.net)