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Interest Rate Announcement – September 17 2025
September 17, 2025 | Posted by: Matthew J. Charlton
BREAKING: Bank of Canada cuts policy rate by 25 bps to 2.50% and the prime rate to 4.70%. This is the Bank’s eighth rate cut.
The next rate announcement is scheduled for Wednesday, October 29 2025.
'The Bank of Canada’s decision to cut the overnight policy interest rate to 2.50% was a step in the right direction in light of the economic challenges Canadians are facing. Our latest housing market report highlights the growing financial strain on Canadians, whether entering the market or renewing their mortgages. The Bank of Canada estimates that 60% of mortgage holders renewing over the next two years will face higher payments.'
- Lauren van den Berg, President and CEO of Mortgage Professionals Canada
Note: While most Canadian financial institutions tend to align their Prime Lending Rate with the Bank of Canada's overnight rate after its announcements, each institution is free to set its own Prime Lending Rate at its discretion.
See Current Rates
