Bank of Canada interest rate decision
The current policy rate, the next scheduled decision, and exactly what each move means for your mortgage — tracked live and updated the moment the Bank announces.
Where rates stand — and what it means for you
The Bank’s most recent move was a 25 bps cut on October 30, 2025, to 2.25%. Chartered-bank prime now sits at 4.45%, so a strong variable file prices near 3.45% today. Lower borrowing costs. Variable-rate and HELOC payments ease, and renewing into a variable looks more attractive — but the right choice still depends on your file.
The 5-year Government of Canada bond yield — the market’s forward bet — has been falling, so markets are leaning toward easier policy ahead, and 5-year fixed mortgage rates may drift lower. The 5-year GoC yield is currently 3.02%. The next call comes July 29, 2026.
This is market information, not advice or a forecast — and not a rate quote. Your actual rate depends on your file and is confirmed in writing by a licensed advisor.
Mortgage Squad Advisors, "Bank of Canada Rate Decision," accessed June 25, 2026. Data: Bank of Canada Valet API. https://www.mortgagesquad.ca/insights/bank-of-canada-rate-decision
Journalists & researchers: free to cite with attribution. For commentary from our Principal Broker, contact info@mortgagesquad.ca.
Sources & method: The current target for the overnight rate, chartered-bank prime, and the 5-year Government of Canada benchmark bond yield are pulled live from the Bank of Canada Valet API and refresh automatically. The “held / cut / raised” read is derived directly from the rate series; the “what to watch” note reflects the recent direction of the 5-year bond yield. Scheduled announcement dates follow the Bank’s published fixed announcement dates. Interpretation is market framing, not advice, a forecast, or a rate quote. Reviewed by Mortgage Squad Advisors (FSRA #13737).
Not affiliated with or endorsed by the Bank of Canada.
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