The Bank of Canada decided in October to end its quantitative easing programme and move into the reinvestment phase, during which it will purchase Government of Canada bonds solely to replace maturing bonds. The central bank also kept its target for the overnight rate at 0.25%, in line with forecasts, and expects borrowing costs to remain at the current level until sometime in the middle quarters of 2022, compared to previous guidance of sometime in the second half of next year. Canada’s economy is now expected to grow at a slower 5.1% this year (vs 6% in the July forecasts) before moderating to 4.25% in 2022 (vs 4.6%) and 3.75% in 2023 (vs 3.3%). On the inflation front, policymakers noted that main forces pushing up prices, including higher energy prices and pandemic-related supply bottlenecks, now appear to be stronger and more persistent than expected. CPI inflation will likely remain elevated into next year, and ease back to around the 2% target by late 2022. source: Bank of Canada
Interest Rate in Canada averaged 5.81 percent from 1990 until 2021, 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 December of 2021.
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. In the long-term, the Canada Interest Rate is projected to trend around 0.75 percent in 2022 and 1.50 percent in 2023, according to our econometric models.