The benchmark interest rate in Canada was last recorded at 2.75 percent. This dataset provides - Canada Interest Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Forecast: Bank Lending Interest Rate in Canada 2022 - 2026 Discover more data with ReportLinker!

Key information about Canada Long Term Interest Rate

• Canada Government Benchmark Bonds Yield: Month End: 10 Years was reported at 2.90 % pa in Feb 2025, compared with 3.07 % pa in the previous month.
• Canada Long Term Interest Rate data is updated monthly, available from Jan 1993 to Feb 2025.
• The data reached an all-time high of 9.28 % pa in Jun 1994 and a record low of 0.46 % pa in Jul 2020.
• Long Term Interest Rate is reported by reported by Bank of Canada.

• In the latest reports, Canada Short Term Interest Rate: Month End: Treasury Bills Yield: 3 Months was reported at 2.82 % pa in Feb 2025.
• The cash rate (Policy Rate: Month End: Overnight Target Rate) was set at 3.00 % pa in Feb 2025.
• Canada Exchange Rate against USD averaged 1.33 (USD/CAD) in Jun 2023.

Canada's inflation rate experienced significant fluctuations from 2018 to 2025. Inflation peaked at 8.1 percent in June 2022 before steadily declining to 1.9 percent by January 2025. In response to rising inflation between 2020 and 2022, the Bank of Canada implemented aggressive interest rate hikes. The bank rate reached a maximum of 5.25 percent in July 2023 and remained stable until June 2024. As inflationary pressures eased in the second half of 2024, the central bank reduced interest rates to 3.5 percent in December 2024. This pattern reflected broader global economic trends, with most advanced and emerging economies experiencing similar inflationary challenges and monetary policy adjustments. Global context of inflation and interest rates The Canadian experience aligns with the broader international trend of central banks raising policy rates to combat inflation. Between 2021 and 2023, nearly all advanced and emerging economies increased their central bank rates. However, a shift occurred in the latter half of 2024, with many countries, including Canada, beginning to lower rates. This change suggests a new phase in the global economic cycle and monetary policy approach. Notably, among surveyed countries, Russia maintained the highest interest rate in early 2025, while Japan had the lowest rate. Comparison with the United States The United States experienced a similar trajectory in inflation and interest rates. U.S. inflation peaked at 9.1 percent in June 2022, slightly higher than Canada's peak. The Federal Reserve responded with a series of rate hikes, reaching 5.33 percent in August 2023. This rate remained unchanged until September 2024, when the first cut since September 2021 was implemented. In contrast, Canada's bank rate peaked at 5.25 percent and began decreasing earlier, with cuts in June and July 2024. These differences highlight the nuanced approaches of central banks in managing their respective economies amid global inflationary pressures.

Canada Conventional Mortgage: 5 Years: Weekly data was reported at 6.490 % pa in 05 Mar 2025. This stayed constant from the previous number of 6.490 % pa for 26 Feb 2025. Canada Conventional Mortgage: 5 Years: Weekly data is updated weekly, averaging 5.700 % pa from Jan 2000 (Median) to 05 Mar 2025, with 1314 observations. The data reached an all-time high of 8.750 % pa in 31 May 2000 and a record low of 4.640 % pa in 12 Jul 2017. Canada Conventional Mortgage: 5 Years: Weekly data remains active status in CEIC and is reported by Bank of Canada. The data is categorized under Global Database’s Canada – Table CA.M005: Conventional Mortgage Rate. [COVID-19-IMPACT]

We present a new, publicly available database of real-time data and forecasts from the Bank of Canada's staff economic projections, which will be updated on an annual basis. We describe the data construct, its variables, coverage, and frequency. We then provide a forecast evaluation for gross domestic product (GDP) growth, consumer price index (CPI) inflation and the policy rate since 1982: We compare the staff's forecasts with those from commonly used time series models estimated with the real-time data, and with forecasts from other professional forecasters, and provide standard bias tests. Finally, we study changes in predictability of the Canadian economy following the announcement of the inflation-targeting regime in 1991. Our data set is unprecedented outside the USA, and our evidence is particularly interesting, as it covers over 30 years of staff forecasts, two severe recessions, and different monetary policy regimes.

The statistic shows the average inflation rate in Canada from 1987 to 2023, with projections up until 2029. The inflation rate is calculated using the price increase of a defined product basket. This product basket contains products and services, on which the average consumer spends money throughout the year. They include expenses for groceries, clothes, rent, power, telecommunications, recreational activities and raw materials (e.g. gas, oil), as well as federal fees and taxes. In 2022, the average inflation rate in Canada was approximately 6.8 percent compared to the previous year. For comparison, inflation in India amounted to 5.56 percent that same year.

Inflation in Canada

In general, the inflation rate in Canada follows a global trend of decreasing inflation rates since 2011, with the lowest slump expected to occur during 2015, but forecasts show an increase over the following few years. Additionally, Canada's inflation rate is in quite good shape compared to the rest of the world. While oil and gas prices have dropped in Canada much like they have around the world, food and housing prices in Canada have been increasing. This has helped to offset some of the impact of dropping oil and gas prices and the effect this has had on Canada´s inflation rate.

The annual consumer price index of food and non-alcoholic beverages in Canada has been steadily increasing over the last decade. The same is true for housing and other price indexes for the country. In general there is some confidence that the inflation rate will not stay this low for long, it is expected to return to a comfortable 2 percent by 2017 if estimates are correct.

This table contains 38 series, with data starting from 1957 (not all combinations necessarily have data for all years). This table contains data described by the following dimensions (Not all combinations are available): Geography (1 item: Canada), Rates (38 items: Bank rate; Chartered bank administered interest rates - prime business; Chartered bank - consumer loan rate; Forward premium or discount (-), United States dollars in Canada: 1 month; ...).

The statistic shows the gross domestic product growth rate in Canada from 2019 to 2023, with projections up until 2029. In 2023, Canada’s real GDP growth was around 1.25 percent compared to the previous year.Economy of CanadaAs an indicator for the shape of a country’s economy, there are not many factors as telling as GDP. GDP is the total market value of all final goods and services that have been produced within a country within a given period of time, usually a year. Real GDP figures serve as an even more reliable tool in determining the direction in which a country’s economy may be swaying, as they are adjusted for inflation and reflect real price changes.Canada is one of the largest economies in the world and is counted among the globe’s wealthiest nations. It has a relatively small labor force in comparison to some of the world’s other largest economic powers, amounting to just under 19 million. Unemployment in Canada has remained relatively high as the country has battled against the tide of economic woe that swept across the majority of the world after the 2008 financial meltdown, and although moving in the right direction, there is still some way to go for Canada.Canada is among the leading trading nations worldwide, owing to the absolutely vast supplies of natural resources, which make up a key part of the Canadian trading relationship with the United States, the country with which Canada trades by far the most. In recent years, around three quarters of Canadian exports went to the United States and just over half of its imports came from its neighbor to the south. The relationship is very much mutually beneficial; Canada is the leading foreign energy supplier to the United States.

Inflation Rate in Canada increased to 2.60 percent in February from 1.90 percent in January of 2025. This dataset provides - Canada Inflation Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

This table contains 39 series, with data for starting from 1991 (not all combinations necessarily have data for all years). This table contains data described by the following dimensions (Not all combinations are available): Geography (1 item: Canada); Financial market statistics (39 items: Government of Canada Treasury Bills, 1-month (composite rates); Government of Canada Treasury Bills, 2-month (composite rates); Government of Canada Treasury Bills, 3-month (composite rates);Government of Canada Treasury Bills, 6-month (composite rates); ...).

Key information about Canada Short Term Interest Rate

• Canada Short Term Interest Rate: Month End: Treasury Bills Yield: 3 Months was reported at 2.82 % pa in Feb 2025, compared with 2.85 % pa in the previous month.
• Canada Short Term Interest Rate data is updated monthly, available from Jan 1993 to Feb 2025.
• The data reached an all-time high of 8.30 % pa in Mar 1995 and a record low of 0.06 % pa in Nov 2021.
• Short Term Interest Rate is reported by reported by Bank of Canada.

• In the latest reports, Canada Government Benchmark Bonds Yield: Month End: 10 Years was reported at 2.90 % pa in Feb 2025.
• The cash rate (Policy Rate: Month End: Overnight Target Rate) was set at 3.00 % pa in Feb 2025.
• Canada Exchange Rate against USD averaged 1.33 (USD/CAD) in Jun 2023.

Graph and download economic data for Interest Rates: Long-Term Government Bond Yields: 10-Year: Main (Including Benchmark) for Canada (IRLTLT01CAM156N) from Jan 1955 to Feb 2025 about long-term, Canada, 10-year, bonds, yield, government, interest rate, interest, and rate.

This table contains 71 series, with data starting from 1934 (not all combinations necessarily have data for all years). This table contains data described by the following dimensions (Not all combinations are available): Geography (1 items: Canada ...), Rates (71 items: Bank rate; last Tuesday or last Thursday; Bank rate; Chartered bank administered interest rates - prime business; Chartered bank - consumer loan rate ...).

China Forward Rate: BOC: Average: CAD: 1 Month data was reported at 5.296 RMB/CAD in 16 Nov 2018. This records an increase from the previous number of 5.271 RMB/CAD for 14 Nov 2018. China Forward Rate: BOC: Average: CAD: 1 Month data is updated daily, averaging 5.728 RMB/CAD from Nov 2008 (Median) to 16 Nov 2018, with 2299 observations. The data reached an all-time high of 6.836 RMB/CAD in 04 May 2011 and a record low of 4.529 RMB/CAD in 20 Jan 2016. China Forward Rate: BOC: Average: CAD: 1 Month data remains active status in CEIC and is reported by Bank of China. The data is categorized under China Premium Database’s Money Market, Interest Rate, Yield and Exchange Rate – Table CN.MH: Forward Rate: BOC: CAD.

The Gross Domestic Product (GDP) in Canada expanded 0.60 percent in the fourth quarter of 2024 over the previous quarter. This dataset provides - Canada GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

The end-of-year common share closing price of Royal Bank of Canada (RBC) increased notably in 2024 compared to the previous year, marking the year with the highest share prices since 1997. At the end of 2024, the share price of RBC stood at 168.39 Canadian dollars, up from 110.76 Canadian dollars a year earlier.

China Forward Rate: BOC: Average: AUD: 12 Month data was reported at 4.988 RMB/AUD in 14 Dec 2018. This records a decrease from the previous number of 5.004 RMB/AUD for 12 Dec 2018. China Forward Rate: BOC: Average: AUD: 12 Month data is updated daily, averaging 5.427 RMB/AUD from Nov 2008 (Median) to 14 Dec 2018, with 2316 observations. The data reached an all-time high of 6.939 RMB/AUD in 19 May 2011 and a record low of 4.107 RMB/AUD in 21 Nov 2008. China Forward Rate: BOC: Average: AUD: 12 Month data remains active status in CEIC and is reported by Bank of China. The data is categorized under China Premium Database’s Money Market, Interest Rate, Yield and Exchange Rate – Table CN.MH: Forward Rate: BOC: AUD.

Key information about Canada Policy Rate

• Canada cash rate (Policy Rate: Month End: Overnight Target Rate) was set at 3.00 % pa in Feb 2025, compared with 3.00 % pa in the previous Jan 2025.
• Canada Policy Rate averaged 2.50 % pa and is updated monthly, available from Dec 1992 to Feb 2025.
• The data reached an all-time high of 8.13 % pa in Feb 1995 and a record low of 0.25 % pa in Feb 2022.

• In the latest reports, Canada Short Term Interest Rate: Month End: Treasury Bills Yield: 3 Months was reported at 2.85 % pa in Jan 2025.
• Its Long Term Interest Rate (Government Benchmark Bonds Yield: Month End: 10 Years) was reported at 3.07 % pa in Jan 2025.
• Canada Exchange Rate against USD averaged 1.33 (USD/CAD) in Jun 2023.
• Its Real Effective Exchange Rate was 88.39 in Dec 2024.

This table contains 45 series, with data for years 1950 - 2015 (not all combinations necessarily have data for all years), and was last released on 2016-01-05. This table contains data described by the following dimensions (Not all combinations are available): Geography (1 items: Canada ...), Type of currency (45 items: United States dollar; noon spot rate; average; Danish krone; noon spot rate; average; French franc; noon spot rate; average; Belgian franc; noon spot rate; average ...).