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Bank of Canada: interest rates, exchange rates and monetary policy

The Bank of Canada is Canada's central bank. It sets the policy interest rate (the target for the overnight rate) eight times a year, publishes the Monetary Policy Report and the Financial Stability Report, and provides daily exchange rates and financial data through its Valet API. Fact-checkers use it for claims about interest rates, inflation targets and the value of the Canadian dollar.

Release calendar

What it publishes

• Policy interest rate decisions and history.
• The Monetary Policy Report with forecasts for inflation and growth, four times a year.
• Daily exchange rates against the Canadian dollar.
• The Financial Stability Report.
• Interest rate statistics, including prime and bond yields.
• Speeches, staff research and Business Outlook Survey results.

Key datasets

• Policy interest rate
  Current rate and full history of changes.
  Updated: Eight decisions a year
• Schedule of rate announcements
  Decision dates for the current and next year.
  Updated: Annual
• Daily exchange rates
  Indicative daily rates against the Canadian dollar.
  Updated: Daily
• Monetary Policy Report
  Economic projections and the Bank's assessment.
  Updated: Quarterly
• Interest rates
  Bank rate, prime rate, bond yields and other rates.
  Updated: Daily and weekly

APIs and downloads

• Valet API
  Free JSON, CSV and XML API for exchange rates, the policy rate (V39079) and other series.

When it publishes

Rate decisions are announced on the dates in the Bank's schedule; the next is October 28, 2026. Exchange rates are published each business day.

How to use it to check a claim

1. Quote the policy rate with the date of the decision that set it.
2. Distinguish the policy rate from the prime rate set by commercial banks.
3. For exchange rates, cite the Bank of Canada daily rate and date; market rates move through the day.

Common mistakes

• The 2% inflation target is for total CPI, within a 1% to 3% control range.
• Bank of Canada exchange rates are indicative and not offered for transactions.

What is the Bank of Canada rate now?

2.25%, held at the September 2, 2026 decision, according to the Bank's key interest rate page.

How do I download Canadian exchange rates?

Use the Valet API, for example the FXUSDCAD series, in JSON or CSV.

Questions answered using this source

• What is the Bank of Canada interest rate?
• What is the Canadian dollar exchange rate?
• What is the inflation rate in Canada?

Links checked 14 October 2026. This page describes what the source publishes and gives no verdict on any claim.