Bank Lending Rate in Canada remained unchanged at 2.45 percent in May from 2.45 percent in April of 2020.

Bank Lending Rate in Canada averaged 7.22 percent from 1960 until 2020, reaching an all time high of 22.75 percent in August of 1981 and a record low of 2.25 percent in April of 2009. This page provides - Canada Prime Lending Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Canada Chartered Banks Prime Lending Rate - values, historical data and charts - was last updated on May of 2020. source: Bank of Canada

Bank Lending Rate in Canada is expected to be 3.45 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Bank Lending Rate in Canada to stand at 3.45 in 12 months time. In the long-term, the Canada Chartered Banks Prime Lending Rate is projected to trend around 3.45 percent in 2021 and 3.95 percent in 2022, according to our econometric models.

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Canada Chartered Banks Prime Lending Rate

Actual Previous Highest Lowest Dates Unit Frequency
2.45 2.45 22.75 2.25 1960 - 2020 percent Monthly

Canada Consumer Last Previous Highest Lowest Unit
Consumer Confidence 38.45 35.60 57.05 35.60 points [+]
Retail Sales MoM -10.00 0.40 3.70 -10.00 percent [+]
Retail Sales YoY -8.40 3.10 10.50 -8.40 percent [+]
Retail Sales Ex Autos -0.40 0.10 3.30 -3.20 percent [+]
Consumer Spending 1187371.00 1181631.00 1187371.00 182407.00 CAD Million [+]
Disposable Personal Income 1309956.00 1298848.00 1309956.00 24872.00 CAD Million [+]
Personal Savings 3.00 3.20 21.60 0.30 percent [+]
Consumer Credit 638563.00 636621.00 641111.00 11066.00 CAD Million [+]
Private Sector Credit 4574481.00 4533892.00 4574481.00 74836.00 CAD Million [+]
Bank Lending Rate 2.45 2.45 22.75 2.25 percent [+]
Gasoline Prices 0.71 0.57 1.32 0.41 USD/Liter [+]
Households Debt To GDP 101.67 102.13 102.13 52.46 percent of GDP [+]
Households Debt To Income 173.68 174.01 174.05 83.56 percent [+]


Canada Chartered Banks Prime Lending Rate
In Canada, the prime lending rate is the average rate of interest charged on loans by commercial banks to the most credit-worthy borrowers.