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Canada Interest Rate

Canada's interest rate decreased to 2.5% in September 2025 from 2.75% in July 2025. The reduction followed weakening economic signs including a 66,000 job decline in August and a rise in the unemployment rate to 7.1%. Core inflation measures also showed moderating price momentum. The Bank of Canada lowered rates partly due to the federal government removing most retaliatory tariffs on US imported goods which is expected to reduce price pressures. Canada's record low interest rate was 0.25% in April 2009 and its record high was 5.75% in May 2000.

Historical Data (1999-2025)

(in %)
Date Interest Rate
Sep 17, 2025 2.5%
Jul 30, 2025 2.75%
Jun 04, 2025 2.75%
Apr 16, 2025 2.75%
Mar 12, 2025 2.75%
Jan 29, 2025 3%
Dec 11, 2024 3.25%
Oct 23, 2024 3.75%
Sep 04, 2024 4.25%
Jul 24, 2024 4.5%
Jun 05, 2024 4.75%
Apr 10, 2024 5%
Mar 06, 2024 5%
Jan 31, 2024 5%
Dec 06, 2023 5%
Oct 25, 2023 5%
Sep 06, 2023 5%
Jul 12, 2023 5%
Jun 07, 2023 4.75%
Apr 12, 2023 4.5%
Mar 08, 2023 4.5%
Jan 25, 2023 4.5%
Dec 07, 2022 4.25%
Oct 26, 2022 3.75%
Sep 07, 2022 3.25%
Jul 13, 2022 2.5%
May 31, 2022 1%
Apr 13, 2022 1%
Mar 02, 2022 0.5%
Jan 26, 2022 0.25%
Dec 08, 2021 0.25%
Oct 27, 2021 0.25%
Sep 08, 2021 0.25%
Jul 14, 2021 0.25%
Jun 09, 2021 0.25%
Apr 21, 2021 0.25%
Mar 10, 2021 0.25%
Jan 20, 2021 0.25%
Dec 09, 2020 0.25%
Oct 28, 2020 0.25%
Sep 09, 2020 0.25%
Jul 15, 2020 0.25%
Jun 03, 2020 0.25%
Apr 15, 2020 0.25%
Mar 13, 2020 0.75%
Mar 04, 2020 1.25%
Feb 29, 2020 1.75%
Jan 22, 2020 1.75%
Dec 04, 2019 1.75%
Oct 30, 2019 1.75%
Sep 04, 2019 1.75%
Jul 10, 2019 1.75%
May 29, 2019 1.75%
Apr 24, 2019 1.75%
Mar 06, 2019 1.75%
Jan 09, 2019 1.75%
Dec 05, 2018 1.75%
Oct 24, 2018 1.75%
Sep 05, 2018 1.5%
Jul 11, 2018 1.5%
May 30, 2018 1.25%
Apr 18, 2018 1.25%
Mar 07, 2018 1.25%
Jan 17, 2018 1.25%
Dec 06, 2017 1%
Oct 25, 2017 1%
Sep 06, 2017 1%
Jul 12, 2017 0.75%
May 24, 2017 0.5%
Apr 12, 2017 0.5%
Feb 28, 2017 0.5%
Jan 18, 2017 0.5%
Dec 07, 2016 0.5%
Oct 19, 2016 0.5%
Sep 07, 2016 0.5%
Jul 13, 2016 0.5%
May 25, 2016 0.5%
Apr 13, 2016 0.5%
Mar 09, 2016 0.5%
Jan 20, 2016 0.5%
Dec 02, 2015 0.5%
Oct 21, 2015 0.5%
Sep 03, 2015 0.5%
Jul 15, 2015 0.5%
Jan 21, 2015 0.75%
Sep 08, 2010 1%
Jul 20, 2010 0.75%
Jun 01, 2010 0.5%
Apr 21, 2009 0.25%
Mar 03, 2009 0.5%
Jan 20, 2009 1%
Dec 09, 2008 1.5%
Oct 21, 2008 2.25%
Oct 08, 2008 2.5%
Apr 22, 2008 3%
Mar 04, 2008 3.5%
Jan 22, 2008 4%
Dec 04, 2007 4.25%
Jul 10, 2007 4.5%
May 24, 2006 4.25%
Apr 25, 2006 4%
Mar 07, 2006 3.75%
Jan 24, 2006 3.5%
Dec 06, 2005 3.25%
Oct 18, 2005 3%
Sep 07, 2005 2.75%
Oct 19, 2004 2.5%
Sep 08, 2004 2.25%
Apr 13, 2004 2%
Mar 02, 2004 2.25%
Jan 20, 2004 2.5%
Sep 03, 2003 2.75%
Jul 15, 2003 3%
Apr 15, 2003 3.25%
Mar 04, 2003 3%
Jul 16, 2002 2.75%
Jun 04, 2002 2.5%
Apr 16, 2002 2.25%
Jan 15, 2002 2%
Nov 27, 2001 2.25%
Oct 23, 2001 2.75%
Sep 17, 2001 3.5%
Aug 28, 2001 4%
Jul 17, 2001 4.25%
May 29, 2001 4.5%
Apr 17, 2001 4.75%
Mar 06, 2001 5%
Jan 23, 2001 5.5%
May 17, 2000 5.75%
Mar 22, 2000 5.25%
Feb 03, 2000 5%
Nov 17, 1999 4.75%
May 04, 1999 4.5%
Mar 31, 1999 4.75%
Jan 04, 1999 5%

Recent Events

datetime event actual previous consensus
2025-10-29 09:45 AM BoC Interest Rate Decision - 2.5% 2.25%
2025-09-17 09:45 AM BoC Interest Rate Decision 2.5% 2.75% 2.5%

Next Release Date :

Canada Interest Rate : Definition
The Interest Rate set by the Bank of Canada is the benchmark cost of borrowing in the economy. It influences lending, spending, investment, inflation, and overall financial stability.
Indicator Last Value Prior Value Period
Current Account to GDP Ratio -1% -0.7% Dec'24
Government Gross Debt to GDP 111% 108% Dec'24