07/15/2026
As expected, there is no change in the overnight lending rate by the Bank of Canada. That means there is no change to the variable rate mortgages and any credit products based on Prime rate. The next rate announcement is September 2, 2026. For a full breakdown on the announcement, here is the link from the Bank of Canada:
The Bank of Canada today held its target for the overnight rate at 2.25%, with the Bank Rate at 2.5% and the deposit rate at 2.20%.