DATA PLANS
Download historical data for 20 million indicators using your browser.
Subscription Plans
|
Features
API GATEWAY
Direct access to our data from your apps using any programing language.
Features
|
Documentation
Already a user?
Login
Light Mode
Dark Mode
Calendar
News
Markets
Currencies
Stocks
Commodities
Bonds
Crypto
Earnings
Holidays
Indicators
Inflation Rate
Interest Rate
Unemployment Rate
GDP Growth
GDP per Capita
GDP Value
Current Account
Credit Rating
Wages Growth
Gold Reserves
Government Debt
Crude Oil Production
Gasoline Prices
Heatmap Table
More Indicators
Countries
United States
China
Japan
Canada
Australia
Brazil
Russia
India
Euro Area
United Kingdom
Germany
France
Italy
Spain
Switzerland
Singapore
More Countries
Forecasts
Countries
Indicators
Currencies
Stocks
Commodities
Bonds
Crypto
Canada Interest Rate
2023 Data – 1990-2022 Historical – 2024 Forecast – Calendar
Summary
Calendar
Forecast
Stats
Alerts
Download
The Bank of Canada held the target for its overnight rate unchanged at 4.5% in its April 2023 meeting, as previously signaled, and stated that it will continue to monitor the latest economic data for future decisions on the policy rate.The decision followed the tightening pause in March, as the Governing Council believes that current borrowing costs are restrictive enough to bring inflation down to the 2% level and opted to support slowing growth.Lower energy prices allowed inflation to fall to 5.2% in February after hitting the 39-year high of 8.1% in June 2022, and the central bank’s updated monetary policy report expects inflation to slow to 3% by the middle of the year before gradually reaching the target of 2% by the end of 2024.On the growth front, the governing council revised GPD estimates to grow 1.4% this year and 1.3% in 2024, before picking up to 2.5% in 2025.
source:
Bank of Canada
Interest Rate in Canada averaged 5.78 percent from 1990 until 2023, reaching an all time high of 16.00 percent in February of 1991 and a record low of 0.25 percent in April of 2009.This page provides – Canada Interest Rate – actual values, historical data, forecast, chart, statistics, economic calendar and news.Canada Interest Rate – data, historical chart, forecasts and calendar of releases – was last updated on June of 2023.
Interest Rate in Canada is expected to be 4.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations.In the long-term, the Canada Interest Rate is projected to trend around 3.00 percent in 2024, according to our econometric models.
1Y
5Y
10Y
25Y
MAX
Chart
Column
Line
Area
Spline
Splinearea
Trend
Average(4)
Histogram
Variance
Mean
Maximum
Minimum
Compare
Export
API
Embed
Ok
Trading Economics members can view, download and compare data from nearly 200 countries, including more than 20 million economic indicators, exchange rates, government bond yields, stock indexes and commodity prices.
Features
Questions?
Contact us
Already a Member?
Login
The Trading Economics Application Programming Interface (API) provides direct access to our data.It allows API clients to download millions of rows of historical data, to query our real-time economic calendar, subscribe to updates and receive quotes for currencies, commodities, stocks and bonds.
API Features
Documentation
Interested?
Click here to contact us
Please Paste this Code in your Website
source: tradingeconomics.com
width
height
Preview
Calendar
GMT
Reference
Actual
Previous
Consensus
TEForecast
2023-01-25
03:00 PM
BoC Interest Rate Decision
4.5%
4.25%
4.5%
4.50%
2023-03-08
03:00 PM
BoC Interest Rate Decision
4.5%
4.5%
4.5%
4.5%
2023-04-12
02:00 PM
BoC Interest Rate Decision
4.5%
4.5%
4.5%
4.5%
2023-06-07
02:00 PM
BoC Interest Rate Decision
4.5%
4.5%
4.5%
2023-06-21
05:30 PM
BoC Summary of Deliberations
2023-07-12
02:00 PM
BoC Interest Rate Decision
Related
Last
Previous
Unit
Reference
Interest Rate
4.50
4.50
percent
May 2023
Money Supply M1
1505209.00
1524104.00
CAD Million
Mar 2023
Central Bank Balance Sheet
382554.00
382327.00
CAD Million
Apr 2023
Banks Balance Sheet
1163834.00
1166145.00
CAD Million
Mar 2023
Deposit Interest Rate
4.83
4.83
percent
Jun 2023
Canada Interest Rate
In Canada, benchmark interest rate is set by the Bank of Canada’s (BoC) Governing Council.
The official interest rate is the Overnight Rate.Since 1996 the Bank Rate is set at the upper limit of an operating band for the money market overnight rate.
Previously, from March 1980 until February 1996 the Bank Rate was set at 25 basis points above the weekly average tender rate for 3-month Treasury bills.
Actual
Previous
Highest
Lowest
Dates
Unit
Frequency
4.50
4.50
16.00
0.25
1990 – 2023
percent
Daily
Compare
Interest Rate by Country
News Stream
Bank of Canada Leaves Rate Unchanged at 4.5%
The Bank of Canada held the target for its overnight rate unchanged at 4.5% in its April 2023 meeting, as previously signaled, and stated that it will continue to monitor the latest economic data for future decisions on the policy rate.The decision followed the tightening pause in March, as the Governing Council believes that current borrowing costs are restrictive enough to bring inflation down to the 2% level and opted to support slowing growth.
Lower energy prices allowed inflation to fall to 5.2% in February after hitting the 39-year high of 8.1% in June 2022, and the central bank’s updated monetary policy report expects inflation to slow to 3% by the middle of the year before gradually reaching the target of 2% by the end of 2024.On the growth front, the governing council revised GPD estimates to grow 1.4% this year and 1.3% in 2024, before picking up to 2.5% in 2025.
2023-04-12
BoC Pauses Rate Hikes as Expected
The Bank of Canada held the target for its overnight rate unchanged at 4.5% in its March 2023 meeting, as previously signaled, and stated that it should continue to hold the rate at the current level should economic conditions develop broadly in line with expectations in the latest Monetary Policy Report.The decision followed a 25bps interest rate hike in January and marked the first halt in the tightening campaign for major monetary authorities, as the BoC opted to shift its priority and support growth.
Canadian GDP growth stalled in the fourth quarter of 2022, lower than projections from the central bank.In the meantime, lower energy prices support the slowdown in consumer prices, strengthening the case for a pause in the bank’s tightening cycle.Inflation slowed to 5.9% in January since hitting its peak of 8.1% in June, and the bank continues to expect inflation to fall to 3% in the middle of the year.
2023-03-08
BoC Raises Rate and Signals End of Tightening
The Bank of Canada raised the target for its overnight rate by 25bps to 4.5% in its first meeting in 2023, as expected by markets, and signaled the end of its aggressive tightening cycle should economic developments evolve broadly with the central bank’s outlook.
The Bank added that it is also continuing its policy of quantitative tightening to complement the restrictive stance of the policy rate.Policymakers underscored that households continued to feel the pressure of higher inflation as food and shelter prices accelerated further, even though lower gasoline costs drove inflation to slow to 6.3% in December from the peak of 8.1% in June.
Still, short-term inflation expectations remain elevated, but are projected to come down significantly later in the year.
In the meantime, the bank estimates that the Canadian economy grew by 3.6% in 2022 but is likely to stall through the middle of the current year before growth picks up again in the second half.
2023-01-25
Related
Canada Labour Productivity Falls for 1st Quarter
Canada Exports Halt 2-Month Decline
Canadian Trade Surplus Widens in April
Canada Imports Down for 3rd Month
TSX Ends Above 20,000 Mark
Canadian Dollar Approaches 1-Month High
Canada Ivey PMI Falls for 2nd Month
Canada Building Permits Fall the Most Since December 2020
Canadian Manufacturing Activity Contracts in May
Canada Economy Likely Grew 0.2% in April
Latest
Canadian Shares Rise Ahead of BoC
US Stocks Rise, S&P to Hit Fresh High since August
Used Car Prices in the US Fall for 2nd Month
Canada Labour Productivity Falls for 1st Quarter
Canada Exports Halt 2-Month Decline
US Imports Snap 2-Month Fall
Canadian Trade Surplus Widens in April
US Trade Gap Widens Slightly Less than Expected
US Exports Fall to 13-Month Low
Canada Imports Down for 3rd Month
Canada
United States
United Kingdom
Euro area
China
Afghanistan
Albania
Algeria
Andorra
Angola
Antigua and Barbuda
Argentina
Armenia
Aruba
Australia
Austria
Azerbaijan
Bahamas
Bahrain
Bangladesh
Barbados
Belarus
Belgium
Belize
Benin
Bermuda
Bhutan
Bolivia
Bosnia
Botswana
Brazil
Brunei
Bulgaria
Burkina Faso
Burundi
Cambodia
Cameroon
Canada
Cape Verde
Cayman Islands
Central African Republic
Chad
Channel Islands
Chile
China
Colombia
Comoros
Congo
Costa Rica
Cote d Ivoire
Croatia
Cuba
Cyprus
Czech Republic
Denmark
Djibouti
Dominica
Dominican Republic
East Asia and Pacific
East Timor
Ecuador
Egypt
El Salvador
Equatorial Guinea
Eritrea
Estonia
Ethiopia
Euro area
European Union
Europe and Central Asia
Faeroe Islands
Fiji
Finland
France
French Polynesia
Gabon
Gambia
Georgia
Germany
Ghana
Greece
Greenland
Grenada
Guam
Guatemala
Guinea
Guinea Bissau
Guyana
Haiti
Honduras
Hong Kong
Hungary
Iceland
India
Indonesia
Iran
Iraq
Ireland
Isle of Man
Israel
Italy
Ivory Coast
Jamaica
Japan
Jordan
Kazakhstan
Kenya
Kiribati
Kosovo
Kuwait
Kyrgyzstan
Laos
Latvia
Lebanon
Lesotho
Liberia
Libya
Liechtenstein
Lithuania
Luxembourg
Macau
Macedonia
Madagascar
Malawi
Malaysia
Maldives
Mali
Malta
Marshall Islands
Mauritania
Mauritius
Mayotte
Mexico
Micronesia
Moldova
Monaco
Mongolia
Montenegro
Morocco
Mozambique
Myanmar
Namibia
Nepal
Netherlands
Netherlands Antilles
New Caledonia
New Zealand
Nicaragua
Niger
Nigeria
North Korea
Norway
Oman
Pakistan
Palau
Panama
Palestine
Papua New Guinea
Paraguay
Peru
Philippines
Poland
Portugal
Puerto Rico
Qatar
Republic of the Congo
Romania
Russia
Rwanda
Samoa
Sao Tome and Principe
Saudi Arabia
Senegal
Serbia
Seychelles
Sierra Leone
Singapore
Slovakia
Slovenia
Solomon Islands
Somalia
South Africa
South Asia
South Korea
South Sudan
Spain
Sri Lanka
Sudan
Suriname
Swaziland
Sweden
Switzerland
Syria
Taiwan
Tajikistan
Tanzania
Thailand
Timor Leste
Togo
Tonga
Trinidad and Tobago
Tunisia
Turkey
Turkmenistan
Uganda
Ukraine
United Arab Emirates
United Kingdom
United States
Uruguay
Uzbekistan
Vanuatu
Venezuela
Vietnam
Virgin Islands
Yemen
Zambia
Zimbabwe
Calendar
Forecast
Indicators
News
Markets
Currency
Government Bond 10Y
Stock Market
GDP
Full Year GDP Growth
GDP
GDP Annual Growth Rate
GDP Constant Prices
GDP from Agriculture
GDP from Construction
GDP from Manufacturing
GDP from Mining
GDP from Public Administration
GDP from Services
GDP from Transport
GDP from Utilities
GDP Growth Annualized
GDP Growth Rate
GDP per Capita
GDP per Capita PPP
Gross Fixed Capital Formation
Gross National Product
Monthly GDP MoM
Labour
Average Hourly Earnings
Employed Persons
Employment Change
Employment Rate
Full Time Employment
Job Vacancies
Labor Force Participation Rate
Labour Costs
Minimum Wages
Non Farm Payrolls
Part Time Employment
Population
Productivity
Retirement Age Men
Retirement Age Women
Unemployed Persons
Unemployment Rate
Wage Growth
Wages
Wages in Manufacturing
Youth Unemployment Rate
Prices
Commodity Prices YoY
Consumer Price Index CPI
Core Consumer Prices
Core Inflation Rate
Core Inflation Rate MoM
CPI Housing Utilities
CPI Median
CPI Transportation
CPI Trimmed-Mean
Export Prices
Food Inflation
GDP Deflator
Import Prices
Inflation Expectations
Inflation Rate
Inflation Rate MoM
Producer Price Inflation MoM
Producer Prices
Producer Prices Change
Wholesale Prices
Health
Coronavirus Cases
Coronavirus Deaths
Coronavirus Vaccination Rate
Coronavirus Vaccination Total
Hospital Beds
Hospitals
Medical Doctors
Nurses
Money
Banks Balance Sheet
Central Bank Balance Sheet
Deposit Interest Rate
Foreign Exchange Reserves
Foreign Stock Investment
Interbank Rate
Interest Rate
Investment in Foreign Securities
Loans to Private Sector
Money Supply M0
Money Supply M1
Money Supply M2
Money Supply M3
Private Debt to GDP
Trade
Balance of Trade
Capital Flows
Crude Oil Production
Current Account
Current Account to GDP
Exports
Exports by Category
Exports by Country
External Debt
Foreign Direct Investment
Gold Reserves
Imports
Imports by Category
Imports by Country
Oil Exports
Terms of Trade
Terrorism Index
Tourist Arrivals
Weapons Sales
Government
Asylum Applications
Credit Rating
Fiscal Expenditure
Government Budget
Government Budget Value
Government Debt
Government Debt to GDP
Government Revenues
Government Spending
Holidays
Military Expenditure
Business
Bankruptcies
Business Climate Indicator
Business Confidence
Capacity Utilization
Car Registrations
Changes in Inventories
Composite Leading Indicator
Corporate Profits
Corruption Index
Corruption Rank
Crude Oil Rigs
Industrial Production
Industrial Production Mom
Manufacturing PMI
Manufacturing Production
Manufacturing Sales
Mining Production
New Orders
Small Business Sentiment
Wholesale Sales
Consumer
Bank Lending Rate
Consumer Confidence
Consumer Credit
Consumer Spending
Disposable Personal Income
Gasoline Prices
Households Debt to GDP
Households Debt to Income
Personal Savings
Retail Sales Ex Autos
Retail Sales MoM
Retail Sales YoY
Housing
Building Permits
Home Ownership Rate
House Price Index MoM
House Price Index YoY
Housing Index
Housing Starts
Price to Rent Ratio
Taxes
Corporate Tax Rate
Personal Income Tax Rate
Sales Tax Rate
Social Security Rate
Social Security Rate For Companies
Social Security Rate For Employees
Withholding Tax Rate
Climate
Precipitation
Temperature
More Indicators
National Statistics
World Bank
TRADING ECONOMICS
Subscriptions
We have a plan for your needs.Standard users can export data in a easy to use web interface or using an excel add-in.Advanced users can use our Python/R/Matlab packages.API users can feed a custom application.White label accounts can distribute our data.
50 Million Indicators
Economic Calendar
News Stream
Earnings Releases
Credit Ratings
Forecasts
50K Markets
Live Quotes
Currencies
Stocks
Commodities
Bonds
Get Started
We Are Hiring
Trading Economics welcomes candidates from around the world.Current job openings:
Web Developer
| Global
Web Designer
| Global
Data Analyst
| America
Apply Now.
