The Bank of Canada left its benchmark interest rate unchanged at 1.75 percent of December 5th 2018, after hiking 25 bps on the previous meeting, as widely expected. It remained the highest rate since December 2008. Policymakers said more interest rate hikes will be need to keep inflation into a neutral range of 2 percent target and that will depend on factors, which include consumption and housing, global trade policy developments, oil price shock, the evolution of business investment, and the Bank’s assessment of the economy’s capacity. The Bank Rate and deposit rate were also left unchanged at 2.0 percent and 1.50 percent, respectively. Interest Rate in Canada averaged 5.89 percent from 1990 until 2018, reaching an all time high of 16 percent in February of 1991 and a record low of 0.25 percent in April of 2009.

Interest Rate in Canada is expected to be 1.75 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 2.50 in 12 months time. In the long-term, the Canada Interest Rate is projected to trend around 2.75 percent in 2020, according to our econometric models.

Canada Interest Rate
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Calendar GMT Actual Previous Consensus TEForecast
2018-07-11 02:00 PM BoC Interest Rate Decision 1.5% 1.25% 1.5% 1.5%
2018-09-05 02:00 PM BoC Interest Rate Decision 1.5% 1.5% 1.5% 1.5%
2018-10-24 02:00 PM BoC Interest Rate Decision 1.75% 1.5% 1.75% 1.75%
2018-12-05 03:00 PM BoC Interest Rate Decision 1.75% 1.75% 1.75% 1.75%
2019-01-09 03:00 PM BoC Interest Rate Decision 1.75%
2019-01-09 04:00 PM BoC Press Conference
2019-03-06 03:00 PM BoC Interest Rate Decision


Canada Money Last Previous Highest Lowest Unit
Interest Rate 1.75 1.75 16.00 0.25 percent [+]
Interbank Rate 2.27 2.26 8.95 0.43 percent [+]
Money Supply M0 93471.00 94210.00 94210.00 2214.00 CAD Million [+]
Money Supply M1 993758.00 992223.00 993758.00 30706.00 CAD Million [+]
Money Supply M2 1642469.00 1632627.00 1642469.00 25523.00 CAD Million [+]
Money Supply M3 2381545.00 2366746.00 2381545.00 37982.00 CAD Million [+]
Banks Balance Sheet 5721872.00 5652859.00 5721872.00 10516.00 CAD Million [+]
Central Bank Balance Sheet 115823.00 114911.00 115921.00 2110.00 CAD Million [+]
Foreign Exchange Reserves 82008.00 82088.00 86805.00 1678.00 USD Million [+]
Loans to Private Sector 422246.00 414713.00 422246.00 10904.00 CAD Million [+]
Deposit Interest Rate 0.10 0.10 15.96 0.05 percent [+]
Foreign Stock Investment 7695.00 2632.00 38935.00 -24129.00 CAD Million [+]
Private Debt to GDP 266.61 264.66 266.61 175.61 percent [+]


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. This page provides - Canada Interest Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Canada Interest Rate - actual data, historical chart and calendar of releases - was last updated on December of 2018.

Actual Previous Highest Lowest Dates Unit Frequency
1.75 1.75 16.00 0.25 1990 - 2018 percent Daily




Country Last Previous
Argentina 58.97 Dec/18
Turkey 24.00 Nov/18
Mexico 8.00 Nov/18
Russia 7.50 Nov/18
South Africa 6.75 Nov/18
Brazil 6.50 Dec/18
India 6.50 Dec/18
Indonesia 6.00 Nov/18
China 4.35 Nov/18
Saudi Arabia 2.75 Nov/18
United States 2.25 Nov/18
Singapore 1.97 Nov/18
Canada 1.75 Dec/18
South Korea 1.75 Nov/18
Australia 1.50 Dec/18
United Kingdom 0.75 Nov/18
Euro Area 0.00 Nov/18
France 0.00 Nov/18
Germany 0.00 Nov/18
Italy 0.00 Nov/18
Netherlands 0.00 Nov/18
Spain 0.00 Nov/18
Japan -0.10 Nov/18
Switzerland -0.75 Nov/18


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