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.

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.

Mortgage credit interest rate, percent in Canada, March, 2025 The most recent value is 4.39 percent as of March 2025, a decline compared to the previous value of 4.46 percent. Historically, the average for Canada from July 2016 to March 2025 is 3.3 percent. The minimum of 2.32 percent was recorded in February 2022, while the maximum of 4.84 percent was reached in May 2024. | TheGlobalEconomy.com

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.

More than ************* mortgage loans are projected to be affected by the increasing mortgage interest rates in Canada by 2025. About *********** of these mortgages are projected to be up for renewal in 2024. These loans were taken out at a time when interest rates were much lower, meaning that homeowners will be affected by a notable increase in their monthly payments.

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.

Bank Lending Rate in Canada remained unchanged at 4.95 percent in June. This dataset provides - Canada Prime Lending Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Graph and download economic data for Interest Rates: Immediate Rates (< 24 Hours): Call Money/Interbank Rate: Total for Canada (IRSTCI01CAA156N) from 1975 to 2024 about interbank, overnight, Canada, interest rate, interest, and 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); ...).

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.

Level of impact interest rates have on the business or organization, by North American Industry Classification System (NAICS), business employment size, type of business, business activity and majority ownership, fourth quarter of 2024.

Business credit interest rate, percent in Canada, March, 2025 The most recent value is 5.1 percent as of March 2025, a decline compared to the previous value of 5.26 percent. Historically, the average for Canada from July 2016 to March 2025 is 4.17 percent. The minimum of 2.73 percent was recorded in September 2021, while the maximum of 6.49 percent was reached in May 2024. | TheGlobalEconomy.com

Aspects of the business or organization most impacted by interest rates, by North American Industry Classification System (NAICS), business employment size, type of business, business activity and majority ownership, first quarter of 2024.

The interest rate of business loans in Canada dropped significantly over the early months of 2020, but it soared in 2022 and 2023. In February 2020, the interest rate for business loans was 4.06 percent and it dropped to 2.8 in September 2021. The interest rate remained low until early 2022, when it began to increase at fast-pace. In September 2024, the rate declined by 13 basis points compared to the same period of the previous year.

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.

Graph and download economic data for Interest Rates: Long-Term Government Bond Yields: 10-Year: Main (Including Benchmark) for Canada (IRLTLT01CAA156N) from 1955 to 2024 about long-term, Canada, 10-year, bonds, yield, government, interest rate, interest, and rate.

Interbank Rate in Canada remained unchanged at 4.97 percent on Wednesday June 26. This dataset provides - Canada Overnight Interbank Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Mortgage interest rates worldwide varied greatly in 2024, from less than **** percent in many European countries, to as high as ** percent in Turkey. The average mortgage rate in a country depends on the central bank's base lending rate and macroeconomic indicators such as inflation and forecast economic growth. Since 2022, inflationary pressures have led to rapid increase in mortgage interest rates. Which are the leading mortgage markets? An easy way to estimate the importance of the mortgage sector in each country is by comparing household debt depth, or the ratio of the debt held by households compared to the county's GDP. In 2023, Switzerland, Australia, and Canada had some of the highest household debt to GDP ratios worldwide. While this indicator shows the size of the sector relative to the country’s economy, the value of mortgages outstanding allows to compare the market size in different countries. In Europe, for instance, the United Kingdom, Germany, and France were the largest mortgage markets by outstanding mortgage lending. Mortgage lending trends in the U.S. In the United States, new mortgage lending soared in 2021. This was largely due to the growth of new refinance loans that allow homeowners to renegotiate their mortgage terms and replace their existing loan with a more favorable one. Following the rise in interest rates, the mortgage market cooled, and refinance loans declined.

FocusEconomics' economic data is provided by official state statistical reporting agencies as well as our global network of leading banks, think tanks and consultancies. Our datasets provide not only historical data, but also Consensus Forecasts and individual forecasts from the aformentioned global network of economic analysts. This includes the latest forecasts as well as historical forecasts going back to 2010. Our global network consists of over 1000 world-renowned economic analysts from which we calculate our Consensus Forecasts. In this specific dataset you will find economic data for Canada Interest Rate.

Aspect of the business or organization most impacted by interest rates, by North American Industry Classification System (NAICS), business employment size, type of business, business activity and majority ownership, fourth quarter of 2024.