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 South Africa desk leads with the SARB repo rate, from the BIS central bank policy rate series for South Africa, then US, UK and ECB rates. The repo rate is the rate at which the South African Reserve Bank lends to banks against eligible collateral; the BIS series records it as dated level changes from 1980 and the page draws it as daily steps. It is the country's main policy rate, not a mortgage or deposit rate.

This desk is reachable at its address but is not listed in the Country selector, and the page is set to noindex. All desks show the same official series in a different order, so the numbers match the hub. Values are republished with attribution to the BIS; this site is not an official BIS publication. The build ingests no South African retail rate series, so none is shown. This is not financial advice.