# Bank of Canada Policy Rate 2026: Current Rate & Schedule

> How Bank of Canada policy-rate decisions flow through to Prime and variable mortgages.

Category: Mortgage Rates
Last verified: 2026-08-29
Source: https://ratellow.com/mortgages/rates/bank-of-canada

## TL;DR
- Live Prime as of 2026-08-31: 4.45%. Prime moves with the policy rate.
- Live 5-year variable: 3.49%.
- Fixed rates track the 5-year Government of Canada bond, not the overnight policy rate directly.