Bank of Canada rate stays at 2.25% (a seventh straight hold): what it means for financing used equipment
Industry news · Published October 16, 2026 · By the Machinery One team · How we count
The Bank of Canada held its policy interest rate at 2.25% on September 2, its seventh straight hold since it last cut the rate on October 29, 2025. The next announcement is October 28, 2026, and it comes with a Monetary Policy Report.
Why a used equipment buyer cares
Most machines don't get paid for in cash. They get financed, leased or rented first. When the Bank of Canada moves its rate, lenders often, but not always, adjust what they charge, and not always by the same amount or on the same day.
- In general, a hold means steadier quotes. If you're comparing a financing offer today with one from two months ago, the Bank's starting point hasn't changed.
- A cut or hike changes the monthly payment on a floating-rate loan. On a six-figure machine that adds up.
- Used can ease the squeeze. A lower sticker price means a smaller amount to finance.
We don't predict where rates go next. Nobody does it reliably. If you have a purchase coming up, talk to your lender about fixed versus floating terms before you sign.
A quick way to compare
Look at the total cost, not only the monthly number.
- Price of the machine
- Rate and term
- Down payment
- Freight and any work it needs
Our market page shows the median and range of dealer asking prices by machine type and province. It's a useful way to sanity-check the price side of the deal before you talk financing.
Sources
- Bank of Canada, Policy interest rate. Rate, decision history (cut to 2.25% on October 29, 2025, then held at every decision through September 2, 2026) and the October 28 schedule, as shown on the Bank's site on October 17, 2026. Check the Bank's site for anything newer.