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 (IRSTCB01CAA156N) from 1960 to 2023 about overnight, Canada, interest rate, banks, interest, depository institutions, 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); ...).

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.;;

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; ...).

Graph and download economic data for Interest Rates: Immediate Rates (< 24 Hours): Prime Rates: Total for Canada (IRSTPI01CAM156N) from Jan 1960 to Dec 2023 about prime, Canada, interest rate, interest, and rate.

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.

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.

Key information about Canada Bank Lending Rate

• Canada Bank Lending Rate was reported at 5.200 % pa in Feb 2025.
• This records a decrease from the previous number of 5.450 % pa for Jan 2025.
• Canada Bank Lending Rate data is updated monthly, averaging 5.500 % pa from Jan 1935 to Feb 2025, with 1082 observations.
• The data reached an all-time high of 22.750 % pa in Aug 1981 and a record low of 2.250 % pa in May 2010.
• Canada Bank Lending Rate data remains active status in CEIC and is reported by CEIC Data.
• The data is categorized under World Trend Plus’s Global Economic Monitor – Table: Bank Lending Rate: Monthly.

Canada CA: Interest Rate Spread data was reported at 2.600 % pa in 2017. This stayed constant from the previous number of 2.600 % pa for 2016. Canada CA: Interest Rate Spread data is updated yearly, averaging 3.055 % pa from Dec 1971 (Median) to 2017, with 47 observations. The data reached an all-time high of 4.250 % pa in 1989 and a record low of 1.022 % pa in 1972. Canada CA: Interest Rate Spread 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. Interest rate spread is the interest rate charged by banks on loans to private sector customers minus the interest rate paid by commercial or similar banks for demand, time, or savings deposits. The terms and conditions attached to these rates differ by country, however, limiting their comparability.;International Monetary Fund, International Financial Statistics and data files.;Median;

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 ...).

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)

This table contains 51 series, with data starting from 2013, and some select series starting from 2016. This table contains data described by the following dimensions (Not all combinations are available): Geography (1 item: Canada), Components (51 items: Total, funds advanced, residential mortgages, insured; Variable rate, insured; Fixed rate, insured, less than 1 year; Fixed rate, insured, from 1 to less than 3 years; ...), and Unit of measure (1 item: Dollars). For additional clarification on the component dimension, please visit the OSFI website for the Report on New and Existing Lending.

Graph and download economic data for Interest Rates: 3-Month or 90-Day Rates and Yields: Commercial/Corporate Paper: Total for Canada (IR3TCP01CAM156N) from Jan 1960 to Dec 2023 about commercial paper, Canada, 3-month, commercial, yield, interest rate, interest, and rate.

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.

This table contains 44 series, with data for years 1950 - 2017 (not all combinations necessarily have data for all years), and is no longer being released. This table contains data described by the following dimensions (Not all combinations are available): Geography (1 item: Canada); Type of currency (44 items: United States dollar, noon spot rate; United States dollar, 90-day forward noon rate; Belgian franc, noon spot rate; Danish krone, noon spot rate; ...).

This table contains data described by the following dimensions (Not all combinations are available): Geography (1 items: Canada ...).

Canada Prime Corporate Paper Rate: 1 Month: Weekly data was reported at 2.190 % pa in 26 Dec 2018. This stayed constant from the previous number of 2.190 % pa for 19 Dec 2018. Canada Prime Corporate Paper Rate: 1 Month: Weekly data is updated weekly, averaging 1.140 % pa from Jun 2002 (Median) to 26 Dec 2018, with 863 observations. The data reached an all-time high of 5.150 % pa in 12 Sep 2007 and a record low of 0.350 % pa in 24 Mar 2010. Canada Prime Corporate Paper Rate: 1 Month: 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.M003: Prime 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.

Canada Conventional Mortgage: 5 Years: Weekly data was reported at 6.490 % pa in 07 May 2025. This stayed constant from the previous number of 6.490 % pa for 30 Apr 2025. Canada Conventional Mortgage: 5 Years: Weekly data is updated weekly, averaging 5.700 % pa from Jan 2000 (Median) to 07 May 2025, with 1323 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]