Canada target for the overnight rate

Source: Bank of Canada Valet API, series V39079 (target for the overnight rate). Licence: Bank of Canada website terms: free use, copy and distribute with attribution (terms). Files: data/raw/boc-overnight-rate.json.

Reading this series

Canada's target for the overnight rate is set by the Bank of Canada's Governing Council and is the policy rate the Bank aims to keep the overnight market near. The page uses the Bank of Canada Valet API series V39079, with a daily record from 2009. Because the Bank changes the target only at fixed announcement dates, the chart is drawn as steps. The target is the policy anchor; the separate CORRA page covers the market rate that settles overnight Canadian repo trades.

Read the headline with its as-of date, then the "versus the previous reading" line. When the target has been unchanged for a while, the page shows the date of the last actual move rather than a row of zero changes. Mean, median, low and high are arithmetic summaries of the daily observations in this build, so a long hold at one setting pulls them toward it. Chart and Table present the series two ways, range buttons filter the drawn window only, and Explore loads zoom and pan on request. The overnight target is not a mortgage or deposit rate.

About this desk

The euro-area desk is the natural home for the two shared ECB series: the deposit facility rate, which is the euro-area policy rate set by the Governing Council, and €STR, the unsecured overnight market benchmark the ECB publishes but does not set. The Germany, France, Italy and Ireland desks point at the same two series; this desk presents them without a single country's framing.

The figures come from the ECB Data Portal and are republished with attribution under the ESCB statistics reuse policy. All desks show the same build-wide series in a different order, so the numbers here match the country desks exactly. The build does not include national retail or mortgage rates for euro-area members, because none is ingested. Euro-area policy is one setting for all members; the site does not invent a national rate. This is not financial advice.