Canada Interest RateThere you have it, Canada cuts for the 1st time in over four years!
There isn't always a recession after a cut, but the last 4 US recessions started with a rate cut...
#recession #inflation #fomc #boc #fed #rates
Key data points
Last release
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Observation period
Oct 23, 2024
Next release
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Forecast
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Highest
16.00 % on Feb 5, 1991
Lowest
0.25 % on Feb 28, 2022
About 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.
Related indicators
Frequently Asked Questions
Canada interest rate is 3.75% at the moment.
Last month Canada interest rate was 3.75%, and the month before that it amounted to 4.25%.
Interest rate is the proportion of a loan that is charged as interest to the borrower, typically an annual percentage of the loan outstanding. When it comes to the national level, interest rate is a rate at which banks borrow money from a country's central bank.
Yes, negative interest rate can be used by the government as a monetary policy tool to stimulate economy growth.
Growing or falling interest rate can influence the country's economy, stimulate it or lower the inflation level. Even people can feel the effect of interest rate's movements — for example, if interest rate increases, loans get more expensive.