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Interest Rate Announcement – October 29 2025
October 29, 2025 | Posted by: Matthew J. Charlton
BREAKING: The Bank of Canada has lowered its benchmark interest rate by 25 bps to 2.25%
The next rate announcement is scheduled for Wednesday, December 10 2025.
'We welcome the decision for the Bank of Canada to cut the overnight interest rate to 2.25%. It is our hope that the latest rate cut will provide needed economic momentum during these uncertain times. Rate relief is also essential to Canadian households, as our latest housing market report underscores the growing financial strain Canadians face—whether striving to purchase their first home or managing higher mortgage costs at renewal.'
- 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
