The Bank of Canada left its benchmark interest rate unchanged at 0.25 percent on April 15th 2020, as widely expected. Policymakers said that they had taken measures aiming to help restore confidence and stimulate spending by consumers and businesses amid the coronavirus pandemic. The Committee added that they will continue to purchase at least CAD 5 billion in Government of Canada securities per week in the secondary market; they will increase the level of purchases as required to maintain proper functioning of the government bond market and they will temporarily raise the amount of Treasury Bills it acquires. Policymakers also announced a new Provincial Bond Purchase Program of up to CAD 50 billion; and a Corporate Bond Purchase Program, in which the Bank will acquire up to a total of CAD 10 billion in investment grade corporate bonds in the secondary market. The Bank is also enhancing its term repo facility to permit funding for up to 24 months.
Interest Rate in Canada averaged 5.86 percent from 1990 until 2020, reaching an all time high of 16 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 2020. source: Bank of Canada
Interest Rate in Canada is expected to be 0.25 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Interest Rate in Canada to stand at 0.25 in 12 months time. In the long-term, the Canada Interest Rate is projected to trend around 0.75 percent in 2021 and 1.25 percent in 2022, according to our econometric models.