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.

Graph and download economic data for Interest Rates: Immediate Rates (< 24 Hours): Central Bank Rates: Total for Canada (IRSTCB01CAQ156N) from Q1 1960 to Q4 2023 about overnight, Canada, interest rate, banks, interest, depository institutions, and rate.

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 Commercial Bank Interest Rate on Credit Card Plans, Accounts Assessed Interest from Nov 1994 to Feb 2025 about consumer credit, credit cards, loans, consumer, interest rate, banks, interest, depository institutions, rate, and USA.

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.

While interest rates in the United States declined three times by late 2024, average credit card interest rates did not immediately follow suit. This reveals itself when comparing the Federal Reserve interest rate against the APR, or annual percentage rates, of credit cards issued by commercial banks. The APR reached a record high in the country in 2024, likely adding to the growing credit card debt in the United States. This was below the APR of credit cards in a country like Brazil, however. It is expected that the credit card interest rates will continue to need time to catch up with the Fed interest rate.

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); ...).

Commercial bank interest rates on credit card plans in the United States were over *** percent higher in early 2025 than in the same period in 2022. In February 2025, the interest amount on credit card plans amounted to ***** percent. Alongside this development, the overall amount of credit card debt in the U.S. reached an all-time high in Q4 2023. Credit cards are considered one of the most common ways to pay in the United States, so potential changes on credit card debt are closely tied to both the inflation figure and central bank interest rate of the country.

Deposit Interest Rate in Canada remained unchanged at 4.91 percent on Wednesday April 10. This dataset includes a chart with historical data for Deposit Interest Rate in Canada.

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.

Graph and download economic data for Interest Rates: 3-Month or 90-Day Rates and Yields: Interbank Rates: Total for Canada (IR3TIB01CAM156N) from Jan 1956 to May 2025 about interbank, Canada, 3-month, yield, interest rate, interest, and rate.

Canada's inflation rate experienced significant fluctuations from 2018 to 2025. Inflation peaked at *** percent in June 2022 before steadily declining to *** percent by December 2024. In early 2025, inflation began to increase again, rising to *** percent in February, and dropping to *** percent in March. 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 **** 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 *** percent in December 2024. In 2025, the bank rate witnessed two cuts, standing at ***** percent in May 2025. 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 *** percent in June 2022, slightly higher than Canada's peak. The Federal Reserve responded with a series of rate hikes, reaching **** 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 **** 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.

United States - Commercial Bank Interest Rate on Credit Card Plans, Accounts Assessed Interest was 21.91% in February of 2025, according to the United States Federal Reserve. Historically, United States - Commercial Bank Interest Rate on Credit Card Plans, Accounts Assessed Interest reached a record high of 23.37 in August of 2024 and a record low of 11.96 in February of 2003. Trading Economics provides the current actual value, an historical data chart and related indicators for United States - Commercial Bank Interest Rate on Credit Card Plans, Accounts Assessed Interest - last updated from the United States Federal Reserve on June of 2025.

Canada CA: Real Interest Rate data was reported at 0.126 % pa in 2017. This records a decrease from the previous number of 1.969 % pa for 2016. Canada CA: Real Interest Rate data is updated yearly, averaging 2.987 % pa from Dec 1961 (Median) to 2017, with 57 observations. The data reached an all-time high of 10.363 % pa in 1990 and a record low of -4.170 % pa in 1974. Canada CA: Real Interest Rate data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Canada – Table CA.World Bank.WDI: Interest Rates. Real interest rate is the lending interest rate adjusted for inflation as measured by the GDP deflator. The terms and conditions attached to lending rates differ by country, however, limiting their comparability.;International Monetary Fund, International Financial Statistics and data files using World Bank data on the GDP deflator.;;

Credit Card Interest Rate: 31 years of historical data from 1994 to 2025.

data source (https://www.federalreserve.gov/apps/ContactUs/feedback.aspx?refurl=/releases/g19/%). For questions on FRED functionality, please contact us here (https://fred.stlouisfed.org/contactus/).

This table contains 12 series, with data starting from 1954 (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: United States); Rates (12 items: Federal Reserve Bank of New York - discount rate; Prime rate charged by banks; Federal funds rate;Commercial paper, adjusted: 1 month; ...).

Concept: Average interest rate from new credit operations, established under market conditions and taken in the reference period. The rate is weighted by the value of operations. Excludes operations with regulated rates, operations with funds from the National Bank for Economic and Social Development (BNDES) or any operations with government funds or funds with mandatory destination. Source: Central Bank of Brazil – Statistics Department 25477-month-average-interest-rate-of-nonearmarked-new-credit-operations---households---credit-card- 25477-month-average-interest-rate-of-nonearmarked-new-credit-operations---households---credit-card-

Canada CA: Long-Term Interest Rate: Government Bonds data was reported at 2.900 % in 2026. This records a decrease from the previous number of 3.018 % for 2025. Canada CA: Long-Term Interest Rate: Government Bonds data is updated yearly, averaging 5.541 % from Dec 1960 (Median) to 2026, with 67 observations. The data reached an all-time high of 14.989 % in 1981 and a record low of 0.753 % in 2020. Canada CA: Long-Term Interest Rate: Government Bonds data remains active status in CEIC and is reported by Organisation for Economic Co-operation and Development. The data is categorized under Global Database’s Canada – Table CA.OECD.EO: Interest Rate: Forecast: OECD Member: Annual. IRL - Long-term interest rate on government bonds; Yield 10-year federal government benchmark bond)

A tabular presentation of interest rate forecasts for Canadian 3-month Treasury Bills and 10-year Government Bonds in 2012 and 2013 by 6 private sector institutions.