The Bank of Canada raised its benchmark interest rate by 25bps to 1.75 percent on October 24th 2018 from 1.5 percent, as widely expected. It marks the third increase this year and the highest rate since December 2008. Policymakers said that more hikes will be needed to keep inflation close to the target of 2 percent, as economy stays strong and the new US-Mexico-Canada Agreement (USMCA) would reduce economic uncertainty. The bank also mentioned evidence that Canadian households are adjusting well to higher borrowing costs. The Bank Rate is correspondingly 2.0 percent and the deposit rate is 1.50 percent. 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.

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%
2018-11-20 05:00 PM BoC Wilkins Speech
2018-12-05 03:00 PM BoC Interest Rate Decision 1.75% 1.75%


Canada Money Last Previous Highest Lowest Unit
Interest Rate 1.75 1.50 16.00 0.25 percent [+]
Interbank Rate 2.21 2.21 8.95 0.43 percent [+]
Money Supply M0 94210.00 92954.00 94210.00 2214.00 CAD Million [+]
Money Supply M1 992223.00 987004.00 992223.00 30706.00 CAD Million [+]
Money Supply M2 1632627.00 1622646.00 1632627.00 25523.00 CAD Million [+]
Money Supply M3 2366746.00 2352721.00 2377425.00 37982.00 CAD Million [+]
Banks Balance Sheet 5652859.00 5552930.00 5676343.00 10516.00 CAD Million [+]
Central Bank Balance Sheet 114911.00 115921.00 115921.00 2110.00 CAD Million [+]
Foreign Exchange Reserves 82088.00 80683.00 86805.00 1678.00 USD Million [+]
Loans to Private Sector 414713.00 409985.00 414713.00 10904.00 CAD Million [+]
Deposit Interest Rate 0.10 0.10 15.96 0.05 percent [+]
Foreign Stock Investment 2817.00 15293.00 38783.00 -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 November of 2018.

Actual Previous Highest Lowest Dates Unit Frequency
1.75 1.50 16.00 0.25 1990 - 2018 percent Daily




Country Last
Argentina 66.77 Nov/18
Turkey 24.00 Oct/18
Mexico 7.75 Oct/18
Russia 7.50 Oct/18
Brazil 6.50 Oct/18
India 6.50 Oct/18
South Africa 6.50 Oct/18
Indonesia 5.75 Oct/18
China 4.35 Oct/18
Saudi Arabia 2.75 Oct/18
United States 2.25 Nov/18
Canada 1.75 Oct/18
Australia 1.50 Nov/18
South Korea 1.50 Oct/18
Singapore 1.45 Oct/18
United Kingdom 0.75 Nov/18
Euro Area 0.00 Oct/18
France 0.00 Oct/18
Germany 0.00 Oct/18
Italy 0.00 Oct/18
Netherlands 0.00 Oct/18
Spain 0.00 Oct/18
Japan -0.10 Oct/18
Switzerland -0.75 Oct/18


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