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 has held the target for the overnight rate at 2.25% since November 14, 2025. Chartered-bank prime now sits at 4.45%, so a strong variable file prices near 3.45% today. Rates are steady — no immediate change to variable-rate payments. Attention turns to the next decision.
The 5-year Government of Canada bond yield — the market’s forward bet — has been little changed, so the market isn’t pricing a large move either way. The 5-year GoC yield is currently 3.12%. 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 July 9, 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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