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.

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 *** 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.

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.

Rates have been trending downward in Canada for the last five years. The ebbs and flows are caused by changes in Canada’s bond yields (driven by Canadians economic developments and international rate movements, particularly U.S. rate fluctuations) and the overnight rate (which is set by the Bank of Canada). As of August 2022, there has been a 225 bps increase in the prime rate, since beginning of year 2022, from 2.45% to 4.70% as of Aug 24th 2022. The following are the historical conventional mortgage rates offered by the 6 major chartered banks in Canada in the past 20 years.

Evaluate Canada’s best mortgage rates in one place. RATESDOTCA’s Rate Matrix lets you compare pricing for all key mortgage types and terms. Rates are based on an average mortgage of $300,000

The statistic shows the average inflation rate in Canada from 1987 to 2024, with projections up until 2030. 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.

Inflation Rate in Canada remained unchanged at 1.70 percent in May. This dataset provides - Canada Inflation Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Unemployment Rate in Canada decreased to 6.90 percent in June from 7 percent in May of 2025. This dataset provides - Canada Unemployment Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

The Home Equity Loan market is projected to reach a market size of 30.74 million by 2033, growing at a CAGR of 3.50% over the forecast period 2025-2033. The United States, Canada, and Mexico are the major markets in North America. China, India, Japan, South Korea, ASEAN, Oceania, and the Rest of Asia Pacific form the Asia Pacific region. The factors driving market growth include the increasing popularity of debt consolidation, home improvements, and the need for additional capital. The growth in the home equity loan market is attributed to the low interest rates and the increasing number of homeowners. The availability of home equity loans at competitive interest rates makes them an attractive option for borrowers. However, the market is restrained by factors such as the high risk associated with home equity loans and strict eligibility criteria. The market is segmented by types, service providers, and regions. The types of home equity loans include fixed-rate loans and home equity lines of credit. The service providers include banks, online lenders, credit unions, and others. The regions include North America, South America, Europe, Middle East & Africa, and Asia Pacific. North America is expected to continue to dominate the market, followed by Asia Pacific and Europe. The increasing demand for home equity loans in these regions is expected to drive the growth of the Home Equity Loan market. Recent developments include: In April 2022, Redfin a real estate company based in Seattle (United States) acquired Bay Equity Home Loans with a sum of USD 137.8 Million. The merger accelerates Redfin’s strategy for expanding its business with customers to buy, sell, rent, and finance a home., In July 2022, Ontario Teachers’ Pension Plan Board acquired HomeQ which exists as a parent company of HomeEquity Bank, from Birch Hill Equity Partners Management Inc. HomeEquity Bank exist as a Canadian Bank offering a range of reverse mortgage solutions product and Ontario Teachers' Pension Plan Board is a global investor.. Key drivers for this market are: Increase In Sales of Household Units, Higher Duration of Repayment. Potential restraints include: Increase In Sales of Household Units, Higher Duration of Repayment. Notable trends are: Access to Large Amount of Loan.

Canadian engineering services have navigated a tumultuous yet resilient period, facing challenges from fluctuating commodity prices and rapid technological competition. In recent years, engineering firms have heavily depended on the resource extraction industries, concentrated in Alberta, accounting for nearly a quarter of industry revenue. These sectors faced contractions in 2020 and 2023 when oil and commodity prices fell, postponing crucial projects and hindering revenue. However, as Canadian oil prices rebounded, so did the need for engineering services, reinvigorating business pipelines. Amid this volatility, engineering firms have harnessed advanced technologies like cloud computing, digital twins and lean engineering to streamline operations, cut costs and level the playing field, especially for smaller competitors. Yet, the ongoing low industry profit of 6.3%, hampered by wage and price competition, remains a hurdle. Engineering operations have grown modestly over the past five years at a CAGR of 0.2%, reaching $42.4 billion in 2025. This sluggish growth stemmed from economic headwinds like volatile interest rates and inflation, prompting firms to diversify service offerings. Engineering businesses have aimed to stabilize revenue and capture market share by expanding into niche, specialized services. Government spending through the Investing in Canada Plan provided stability for the sector, offsetting private sector dips and safeguarding project pipelines, particularly in infrastructure-heavy regions like Ontario. Revenue growth in 2025 is at 1.9%. However, labour shortages and an ongoing skills gap will press the industry, incentivizing the industry to leverage internationally trained engineers and boost workforce development initiatives to remain competitive. The next five years have a more optimistic outlook for Canadian engineering services, with revenue growth at a CAGR of 2.2%, bumping revenues to $47.3 billion by 2030. Stabilizing economic conditions, such as anticipated interest rate cuts, signal a buoyant environment, with investment prospects in renewable energy and infrastructure gaining traction. Provinces like Alberta and British Columbia present lucrative opportunities for engineering firms, especially in the biofuel and wind power sectors. However, the looming labour shortages may drive wage expenses further up and elongate project timelines, necessitating strategic responses from the industry to attract and retain skilled workers. Emphasizing sustainability and embracing innovative technologies will differentiate successful companies, equipping them to seize emerging opportunities and adapt to evolving market demands efficiently. By focusing on workforce upskilling and technological adoption, engineering companies can position themselves as leaders in a recovering market brimming with potential.

Concrete contractors have navigated a volatile landscape shaped by shifting interest rates and economic pressures in recent years. The low interest rates of 2020 and 2021 fueled a boom in residential construction, driving significant growth for contractors focused on single-family homes and renovations. As nonresidential spending waned, these residential projects provided a vital lifeline. However, the rise in interest rates during 2022 and 2023 slowed this momentum, particularly in single-family housing starts. Despite these challenges, apartment construction continued to rise, offering steady work for those specializing in cast-in-place concrete. Rate cuts in 2024 led to a recovery in single-family housing starts, benefiting contractors. Overall, industry revenue has been increasing at a CAGR of 3.2% over the past five years to total an estimated $15.1 billion through the end of 2025, including an estimated increase of 1.5% in 2025. Over the past five years, infrastructure investments have been crucial in supporting concrete contractors. Government commitments, such as Quebec's $1.5 billion road repair initiative and Alberta's $335.1 million paving boost for 2024, have created substantial opportunities. Also, the recent growth in manufacturing facilities, spurred by tax credits, has led to a surge in factory construction projects. Contractors have adapted to rising material costs, passing these on to customers, maintaining profitability and contributing to price-based revenue gains. Although supply chain issues and labour shortages have posed challenges, strategic positioning and cost management have enabled concrete contractors to weather these storms effectively. The next five years present a mixed outlook for concrete contractors. Canada's expected housing shortfall of 3.5 million units by 2030 will likely fuel residential construction, but uncertainty regarding interest rates may hinder housing development. Infrastructure investments, particularly in Ontario, Alberta and Newfoundland, will continue providing lucrative contracts. However, potential challenges loom. Persisting labour shortages and retaliatory tariffs on US materials could increase costs for the construction sector and lead to a slowdown in investments by downstream markets. While office building construction will likely remain sluggish because of high vacancy rates, other commercial markets, like hotel construction, will spur growth. Industry revenue is forecast to increase at a CAGR of 1.3% to total an estimated $16.1 billion through the end of 2030.