Bank Lending Rate in Canada increased to 3.95 percent in November from 3.70 percent in October of 2018. Bank Lending Rate in Canada averaged 7.31 percent from 1960 until 2018, reaching an all time high of 22.75 percent in August of 1981 and a record low of 2.25 percent in April of 2009.
Bank Lending Rate in Canada is expected to be 3.70 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Bank Lending Rate in Canada to stand at 4.45 in 12 months time. In the long-term, the Canada Chartered Banks Prime Lending Rate is projected to trend around 4.70 percent in 2020, according to our econometric models.