Canada Interest Rate  1990-2016 | Data | Chart | Calendar | Forecast

The Bank of Canada left its benchmark overnight rate unchanged at 0.5 percent at its May 25th, 2016 meeting as widely expected. The bank rate is correspondingly 0.75 percent and the deposit rate is 0.25 percent. Policymakers said inflation is roughly in line with forecasts while growth is the second quarter of the year is expected to be weaker due to wildfires that devastated Alberta. Interest Rate in Canada averaged 5.96 percent from 1990 until 2016, 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 reported by the Bank of Canada.

Canada Interest Rate
Receive the next reported value for Canada Interest Rate in you Inbox



We will not not share your email with third parties and you can unsubscribe at any time.
Please Paste this Code in your Website

Actual Previous Highest Lowest Dates Unit Frequency
0.50 0.50 16.00 0.25 1990 - 2016 percent Daily
In Canada, benchmark interest rate is set by the Bank of Canada's (BoC) Governing Council. The official interest rate is the Bank 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 May of 2016.


Calendar GMT Reference Actual Previous Consensus Forecast (i)
2016-03-09 03:00 PM BoC Interest Rate Decision 0.5% 0.5% 0.5% 0.5%
2016-04-13 02:00 PM BoC Interest Rate Decision 0.5% 0.5% 0.50% 0.5%
2016-05-25 02:00 PM BoC Interest Rate Decision 0.5% 0.5% 0.5% 0.5%
2016-06-02 03:00 PM BoC Schembri Speech
2016-06-04 06:15 PM BoC Gov Poloz Press Conference
2016-07-13 02:00 PM BoC Interest Rate Decision 0.5% 0.5%

Canada Leaves Monetary Policy Unchanged


The Bank of Canada left its benchmark overnight rate unchanged at 0.5 percent at its May 25th, 2016 meeting as widely expected. The bank rate is correspondingly 0.75 percent and the deposit rate is 0.25 percent. Policymakers said inflation is roughly in line with forecasts while growth is the second quarter of the year is expected to be weaker due to wildfires that devastated Alberta.

Statement by the Bank of Canada:

The global economy is evolving largely as the Bank projected in its April Monetary Policy Report (MPR). In the United States, despite weakness in the first quarter, a number of indicators, including employment, point to a return to solid growth in 2016. Financial conditions remain accommodative, with ongoing geopolitical factors contributing to fragile market sentiment. Oil prices are higher, in part because of short-term supply disruptions.

In Canada, the economy’s structural adjustment to the oil price shock continues, but is proving to be uneven. Growth in the first quarter of 2016 appears to be in line with the Bank’s April projection, although business investment and intentions remain disappointing. The second quarter will be much weaker than predicted because of the devastating Alberta wildfires. The Bank’s preliminary assessment is that fire-related destruction and the associated halt to oil production will cut about 1 1/4 percentage points off real GDP growth in the second quarter. The economy is expected to rebound in the third quarter, as oil production resumes and reconstruction begins. While the Canadian dollar has been fluctuating in response to shifting expectations of US monetary policy and higher oil prices, it is now close to the level assumed in April.

Inflation is roughly in line with the Bank’s expectations. Total CPI inflation has risen recently, largely due to movements in gasoline prices, but remains slightly below the 2 per cent target. Measures of core inflation remain close to 2 per cent, reflecting the offsetting influences of past exchange rate depreciation and excess capacity.

Canada’s housing market continues to display strong regional divergences, reinforced by the complex adjustment underway in the economy. In this context, household vulnerabilities have moved higher. Meanwhile, the risks to the Bank’s inflation projection remain roughly balanced. Therefore, the Bank’s Governing Council judges that the current stance of monetary policy is still appropriate, and the target for the overnight rate remains at 1/2 per cent.

Bank of Canada | Joana Taborda | joana.taborda@tradingeconomics.com
5/25/2016 3:07:01 PM

Canada Money Last Previous Highest Lowest Unit
Interest Rate 0.50 0.50 16.00 0.25 percent [+]
Interbank Rate 0.91 0.91 8.95 0.43 percent [+]
Money Supply M0 80709.00 80151.00 80709.00 2214.00 CAD Million [+]
Money Supply M1 830792.00 829538.00 830792.00 30706.00 CAD Million [+]
Money Supply M2 1402387.00 1398660.00 1402387.00 25523.00 CAD Million [+]
Money Supply M3 2097851.00 2104210.00 2104210.00 37982.00 CAD Million [+]
Central Bank Balance Sheet 100534.00 99020.00 100534.00 2226.00 CAD Million [+]
Banks Balance Sheet 5049068.00 5050451.00 5050451.00 10516.00 CAD Million [+]
Foreign Exchange Reserves 83922.00 82192.00 83922.00 1678.00 USD Million [+]
Loans to Private Sector 334758.00 337211.00 337211.00 10928.00 CAD Million [+]
Deposit Interest Rate 0.10 0.55 15.96 0.05 percent [+]
Foreign Stock Investment 17169.00 15936.00 26480.00 -24129.00 CAD Million [+]




Last
Argentina 36.90 Apr/16
Malawi 27.00 Apr/16
Ghana 26.00 May/16
Gambia 23.00 Apr/16
Belarus 22.00 Apr/16
Venezuela 21.09 Mar/16
Iran 21.00 May/15
Haiti 20.00 Apr/16
Ukraine 18.00 May/16
Uganda 16.00 Apr/16
Zambia 15.50 May/16
Afghanistan 15.00 Apr/16
Kazakhstan 15.00 May/16
Yemen 15.00 Apr/16
Brazil 14.25 Apr/16
Angola 14.00 May/16
Liberia 13.67 Dec/15
Moldova 13.00 May/16
Mozambique 12.75 Apr/16
Djibouti 12.70 Dec/14
Seychelles 12.29 Mar/16
Suriname 12.28 Dec/14
Nigeria 12.00 May/16
Tanzania 12.00 Apr/16
Zimbabwe 11.99 Dec/15
Sudan 11.70 Sep/15
Guinea 11.00 Oct/15
Russia 11.00 Apr/16
Egypt 10.75 Apr/16
Kenya 10.50 May/16
Mongolia 10.50 May/16
Lebanon 10.00 Apr/16
Myanmar 10.00 Apr/16
Sao Tome and Principe 10.00 Apr/16
Burundi 9.82 Dec/15
Sierra Leone 9.50 Apr/16
Uruguay 9.25 Apr/16
Ecuador 9.03 Apr/16
Mauritania 9.00 Apr/16
Tajikistan 9.00 Apr/16
Uzbekistan 9.00 Apr/16
Madagascar 8.70 Feb/16
Kyrgyzstan 8.00 Apr/16
Armenia 7.75 May/16
Cape Verde 7.50 Dec/15
Georgia 7.50 Apr/16
Turkey 7.50 May/16
Colombia 7.25 May/16
Azerbaijan 7.00 May/16
Maldives 7.00 Apr/16
Namibia 7.00 Apr/16
Nepal 7.00 Apr/16
South Africa 7.00 May/16
Swaziland 7.00 May/16
Bangladesh 6.75 Apr/16
Indonesia 6.75 May/16
India 6.50 Apr/16
Rwanda 6.50 Apr/16
Sri Lanka 6.50 May/16
Vietnam 6.50 Apr/16
Lesotho 6.49 Dec/15
Papua New Guinea 6.25 Apr/16
Bhutan 6.00 Apr/16
Botswana 6.00 Apr/16
Iraq 6.00 Mar/16
Pakistan 6.00 Apr/16
Honduras 5.75 Mar/16
Iceland 5.75 May/16
Paraguay 5.75 May/16
Brunei 5.50 Apr/16
Bosnia and Herzegovina 5.25 Feb/16
Jamaica 5.25 Apr/16
Dominican Republic 5.00 Apr/16
Ethiopia 5.00 Apr/16
Guyana 5.00 Apr/16
Trinidad and Tobago 4.75 Mar/16
Bahamas 4.50 Mar/16
Laos 4.50 Apr/16
Qatar 4.50 Apr/16
Mauritius 4.40 Apr/16
China 4.35 Apr/16
El Salvador 4.33 Apr/16
Peru 4.25 May/16
Serbia 4.25 May/16
Tunisia 4.25 Apr/16
Algeria 4.00 Apr/16
Jordan 3.75 Apr/16
Mexico 3.75 May/16
Benin 3.50 Apr/16
Burkina Faso 3.50 Apr/16
Chile 3.50 May/16
Guinea Bissau 3.50 Apr/16
Ivory Coast 3.50 Apr/16
Mali 3.50 Apr/16
Niger 3.50 Apr/16
Senegal 3.50 Apr/16
Togo 3.50 Apr/16
Barbados 3.26 Apr/16
Macedonia 3.25 Jan/16
Malaysia 3.25 May/16
Guatemala 3.00 Apr/16
Libya 3.00 Apr/16
Philippines 3.00 Jun/16
Belize 2.50 Apr/16
Croatia 2.50 Apr/16
Cameroon 2.45 Apr/16
Central African Republic 2.45 Apr/16
Chad 2.45 Apr/16
Equatorial Guinea 2.45 Apr/16
Gabon 2.45 Apr/16
Republic of the Congo 2.45 Apr/16
Cuba 2.25 Apr/16
Kuwait 2.25 Apr/16
Morocco 2.25 Apr/16
New Zealand 2.25 Apr/16
Congo 2.00 Apr/16
Saudi Arabia 2.00 Apr/16
Bolivia 1.90 Mar/16
Australia 1.75 May/16
Costa Rica 1.75 Apr/16
Romania 1.75 May/16
Poland 1.50 May/16
South Korea 1.50 May/16
Taiwan 1.50 Apr/16
Thailand 1.50 May/16
Cambodia 1.42 Mar/16
Comoros 1.36 Mar/16
Albania 1.25 May/16
United Arab Emirates 1.25 Apr/16
Oman 1.00 Apr/16
Hungary 0.90 May/16
Bahrain 0.75 Apr/16
Hong Kong 0.75 Apr/16
Macau 0.75 Apr/16
Canada 0.50 May/16
Fiji 0.50 Apr/16
Norway 0.50 May/16
United Kingdom 0.50 May/16
United States 0.50 Apr/16
Panama 0.44 Feb/16
Singapore 0.41 Apr/16
New Caledonia 0.30 Apr/16
Israel 0.10 May/16
Czech Republic 0.05 May/16
Austria 0.00 Apr/16
Belgium 0.00 Apr/16
Bulgaria 0.00 May/16
Cyprus 0.00 Apr/16
Estonia 0.00 Apr/16
Euro Area 0.00 Apr/16
Finland 0.00 Apr/16
France 0.00 Apr/16
Germany 0.00 Apr/16
Greece 0.00 Apr/16
Ireland 0.00 Apr/16
Italy 0.00 Apr/16
Latvia 0.00 Apr/16
Lithuania 0.00 Apr/16
Luxembourg 0.00 Apr/16
Malta 0.00 Apr/16
Netherlands 0.00 Apr/16
Portugal 0.00 Apr/16
Slovakia 0.00 Apr/16
Slovenia 0.00 Apr/16
Spain 0.00 Apr/16
Japan -0.10 Apr/16
Sweden -0.50 Apr/16
Denmark -0.65 Apr/16
Switzerland -0.75 Apr/16