Bank of Canada lowers overnight rate target to 1/2 per cent
Bank of Canada > Press > Press Releases > Bank of Canada lowers overnight rate target to 1/2 per cent
Here are the most recent changes to the Bank of Canada prime rate (aka the overnight rate):
- June to September 2010: 3 x 0.25% increases, prime rate changed from from 0.25% to 1.0% (0.75% total increase)
- January 21, 2015: lowered from 1.0% to 0.75% (0.25% decrease)
- July 15, 2015 (today): lowered from 0.75% to 0.50% (0.25% decrease)
The next scheduled date that the Bank of Canada will announce their overnight rate target is Wednesday September 9, 2015.