Bank Lending Rate in Canada remained unchanged at 2.45 percent in July from 2.45 percent in June of 2021. source: Bank of Canada

Bank Lending Rate in Canada averaged 7.13 percent from 1960 until 2021, 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 July of 2021.

Bank Lending Rate in Canada is expected to be 2.45 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 2.45 in 12 months time. In the long-term, the Canada Chartered Banks Prime Lending Rate is projected to trend around 2.70 percent in 2022 and 3.45 percent in 2023, 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 - 2021 percent Monthly

Canada Consumer Last Previous Highest Lowest Unit
Consumer Confidence 55.70 51.49 57.05 35.60 points [+]
Retail Sales MoM -2.10 -5.70 23.50 -24.90 percent [+]
Retail Sales YoY 24.60 57.20 57.20 -31.80 percent [+]
Retail Sales Ex Autos -2.00 -7.20 14.20 -20.60 percent [+]
Consumer Spending 1148288.00 1140757.00 1193017.00 182407.00 CAD Million [+]
Disposable Personal Income 1435000.00 1397720.00 1473096.00 24872.00 CAD Million [+]
Personal Savings 13.10 12.70 28.20 0.40 percent [+]
Consumer Credit 786228.00 782660.00 802908.00 11066.00 CAD Million [+]
Bank Lending Rate 2.45 2.45 22.75 2.25 percent [+]
Households Debt To GDP 111.59 112.62 112.62 53.55 percent of GDP [+]
Households Debt To Income 167.70 169.87 174.31 83.56 percent [+]
Gasoline Prices 1.12 1.11 1.32 0.41 USD/Liter [+]


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.