The Bank of Canada lefts its key overnight rate unchanged at 0.25% on April 21st 2021, in line with expectations, and said weekly net purchases of Government of Canada bonds will be adjusted to a target of C$3 billion from C$4 billion, effective the week of April 26. Policymakers noted that economic growth in Q1 appears considerably stronger than the Bank’s January forecast, as households and companies adapted to the second wave and associated restrictions. GDP growth forecasts were revised higher for 2021 (6.5% vs 4%) but were lowered to 2022 (3.7% vs 4.8%). The inflation is expected to rise temporarily to around the top of the 1-3% inflation-control range, due to base-year effects and higher oil prices. Still, the Bank expects it to ease back toward 2% over the second half of 2021. source: Bank of Canada
Interest Rate in Canada averaged 5.82 percent from 1990 until 2021, reaching an all time high of 16 percent in February of 1991 and a record low of 0.25 percent in April of 2009. This page provides - Canada Interest Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Canada Interest Rate - data, historical chart, forecasts and calendar of releases - was last updated on May of 2021.
Interest Rate in Canada is expected to be 0.25 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 0.25 in 12 months time. In the long-term, the Canada Interest Rate is projected to trend around 0.25 percent in 2022, according to our econometric models.