The Bank of Canada kept its benchmark interest rate steady at 1.75 percent on January 9th 2019, as widely expected. It remained the highest rate since December 2008. Policymakers said more interest rate hikes will be needed to keep inflation into a neutral range of 2 percent target and that the pace of those hikes will depend on factors including developments in oil markets, Canadian housing market and global trade. 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
2018-09-05 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% 1.75% 1.75% 1.75%
2019-01-31 05:45 PM BoC Wilkins Speech
2019-03-06 03:00 PM BoC Interest Rate Decision 1.75%
2019-04-15 03:00 PM BoC Business Outlook Survey


Canada Money Last Previous Highest Lowest Unit
Interest Rate 1.75 1.75 16.00 0.25 percent [+]
Interbank Rate 2.24 2.25 8.95 0.43 percent [+]
Money Supply M0 93290.00 93471.00 94210.00 2214.00 CAD Million [+]
Money Supply M1 1001740.00 993758.00 1001740.00 30706.00 CAD Million [+]
Money Supply M2 1653767.00 1642469.00 1653767.00 25523.00 CAD Million [+]
Money Supply M3 2399556.00 2381545.00 2399556.00 37982.00 CAD Million [+]
Banks Balance Sheet 5901984.00 5714984.00 5901984.00 10516.00 CAD Million [+]
Central Bank Balance Sheet 113912.00 115823.00 115921.00 2110.00 CAD Million [+]
Foreign Exchange Reserves 83926.00 82008.00 86805.00 1678.00 USD Million [+]
Loans to Private Sector 425184.00 422246.00 425184.00 10904.00 CAD Million [+]
Deposit Interest Rate 0.10 0.10 15.96 0.05 percent [+]
Foreign Stock Investment 9454.00 3969.00 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 January of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
1.75 1.75 16.00 0.25 1990 - 2019 percent Daily




Country Last Previous
Argentina 57.32 Jan/19
Turkey 24.00 Jan/19
Mexico 8.25 Dec/18
Russia 7.75 Dec/18
South Africa 6.75 Dec/18
Brazil 6.50 Dec/18
India 6.50 Dec/18
Indonesia 6.00 Jan/19
China 4.35 Dec/18
Saudi Arabia 3.00 Dec/18
United States 2.50 Dec/18
Singapore 1.76 Dec/18
Canada 1.75 Jan/19
South Korea 1.75 Dec/18
Australia 1.50 Dec/18
United Kingdom 0.75 Dec/18
Euro Area 0.00 Dec/18
France 0.00 Dec/18
Germany 0.00 Dec/18
Italy 0.00 Dec/18
Netherlands 0.00 Dec/18
Spain 0.00 Dec/18
Japan -0.10 Dec/18
Switzerland -0.75 Dec/18


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