Interest rate spread (lending rate minus deposit rate, %) in Canada
Canada: Interest rate spread (lending rate minus deposit rate, %) was 2.6% in 2017. ▲ Rising
Interest rate spread in Canada, 1971–2017
Source: International Financial Statistics database, International Monetary Fund (IMF). Measured in lending rate minus deposit rate, %.
Analysis
Canada recorded 2.6% for interest rate spread in 2017.
Compared with earlier readings it is down 35.3% over ten years.
Over the whole period, interest rate spread in Canada peaked at 4.2% in 1989 and was at its lowest, 1.0%, in 1972.
Canada ranks 114th of 141 countries on this measure, in the bottom quarter.
The long-run direction has been consistently rising across the 47 years of available data.
Interest rate spread (lending rate minus deposit rate, %) in Canada, year by year
| Year | lending rate minus deposit rate, % | Change |
|---|---|---|
| 1971 | 2.1% | — |
| 1972 | 1.0% | -50.6% |
| 1973 | 1.3% | +23.3% |
| 1974 | 1.4% | +14.1% |
| 1975 | 2.1% | +43.5% |
| 1976 | 1.4% | -32.3% |
| 1977 | 1.5% | +10.4% |
| 1978 | 1.5% | -2.7% |
| 1979 | 1.6% | +5.6% |
| 1980 | 2.7% | +72.4% |
| 1981 | 3.3% | +22.1% |
| 1982 | 2.9% | -13.1% |
| 1983 | 3.8% | +32.4% |
| 1984 | 3.1% | -18.5% |
| 1985 | 2.8% | -10.7% |
| 1986 | 3.4% | +23.1% |
| 1987 | 3.8% | +11.5% |
| 1988 | 4.2% | +9.2% |
| 1989 | 4.2% | +1.5% |
| 1990 | 4.2% | -1.0% |
| 1991 | 4.2% | -0.5% |
| 1992 | 3.6% | -14.9% |
| 1993 | 2.7% | -23.4% |
| 1994 | 2.9% | +6.0% |
| 1995 | 3.4% | +16.2% |
| 1996 | 3.1% | -9.0% |
| 1997 | 3.1% | -0.2% |
| 1998 | 3.5% | +15.4% |
| 1999 | 3.6% | +0.9% |
| 2000 | 3.8% | +6.4% |
| 2001 | 3.6% | -6.1% |
| 2002 | 3.4% | -5.0% |
| 2003 | 3.6% | +6.2% |
| 2004 | 3.2% | -10.3% |
| 2005 | 3.6% | +12.7% |
| 2006 | 4.0% | +10.0% |
| 2007 | 4.0% | +0.8% |
| 2008 | 3.2% | -19.7% |
| 2009 | 2.3% | -28.8% |
| 2010 | 2.4% | +4.5% |
| 2011 | 2.5% | +5.0% |
| 2012 | 2.5% | -0.3% |
| 2013 | 2.5% | -2.6% |
| 2014 | 2.5% | +0.0% |
| 2015 | 2.7% | +10.2% |
| 2016 | 2.6% | -3.7% |
| 2017 | 2.6% | +0.0% |
Canada compared with similar countries
- Canada's 2.6% is below the median for high income countries, which is 3.1%, 85% of the median. (38 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 1.5% | 1.0% | 2.1% | 9 |
| 1980s | 3.4% | 2.7% | 4.2% | 10 |
| 1990s | 3.4% | 2.7% | 4.2% | 10 |
| 2000s | 3.5% | 2.3% | 4.0% | 10 |
| 2010s | 2.5% | 2.4% | 2.7% | 8 |
Countries ranked near Canada
More financial sector data for Canada
- Reserve position in the IMF, US dollar, annual growth rate 6.08 % change on previous year (2025)
- Reserve position in the IMF, US dollar, per unit of GDP 0.0017 units per US$ of GDP (2025)
- Reserve position in the IMF, US dollar, per capita 93.62 units per person (2025)
- Reserve position in the IMF, SDR, annual growth rate 1.02 % change on previous year (2025)
- Reserve position in the IMF, SDR, per unit of GDP 0.0012 units per US$ of GDP (2025)
- Reserve position in the IMF, SDR, per capita 68.36 units per person (2025)
- Reserve tranche position, US dollar, annual growth rate 6.08 % change on previous year (2025)
- Reserve tranche position, US dollar, per unit of GDP 0.0017 units per US$ of GDP (2025)
- Reserve tranche position, US dollar, per capita 93.62 units per person (2025)
- Reserve tranche position, SDR, annual growth rate 1.02 % change on previous year (2025)
Frequently asked questions
- What is interest rate spread in Canada?
- Interest rate spread in Canada was 2.6% in 2017, according to International Financial Statistics database, International Monetary Fund (IMF).
- What is the highest interest rate spread recorded in Canada?
- The highest recorded value was 4.2% in 1989.
- What is the lowest interest rate spread recorded in Canada?
- The lowest recorded value was 1.0% in 1972.
- How does Canada rank for interest rate spread?
- Canada ranks 114th out of 141 countries with data for 2017.
- Is interest rate spread rising or falling in Canada?
- Over the last ten years it is down 35.3%. The long-run trend across the full record is rising.
- Where does this Canada data come from?
- The figures come from International Financial Statistics database, International Monetary Fund (IMF), published as part of Interest rate spread (lending rate minus deposit rate, %). Statizoid updates them automatically from the source API.
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About this data
Interest rate spread is the interest rate charged by banks on loans to private sector customers minus the interest rate paid by commercial or similar banks for demand, time, or savings deposits. The terms and conditions attached to these rates differ by country, however, limiting their comparability.