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)