Bank of Canada Interest Rates: Current & Historical Interest Rates in Canada

The Bank of Canada (BOC) is responsible for the country’s monetary policy decisions, including its interest rate. Changes in interest rates are generally mirrored in Canadian Government Bond yields, meaning an increase in rates would see a rise in yields. The bank’s stated objective is to preserve the value of money by keeping inflation low, stable and predictable. The BOC monetary policy framework consists of two main components, the inflation-control target and the flexible exchange rate. Regular BOC interest rate decisions disseminate information on the health of the Canadian economy and policy expectations.