Lending interest rate in Canada
Canada: Lending interest rate was 2.7% in 2017. ▼ Falling
Lending interest rate in Canada, 1960–2017
Source: International Financial Statistics database, International Monetary Fund (IMF). Measured in %.
Analysis
The most recent figure for lending interest rate in Canada is 2.7%, measured in 2017.
Compared with earlier readings it is down 55.8% over ten years.
Over the whole period, lending interest rate in Canada peaked at 19.3% in 1981 and was at its lowest, 2.4%, in 2009.
That places Canada 146th out of 149 countries with data for 2017, putting it in the bottom quarter.
The long-run direction has been consistently falling across the 58 years of available data.
Lending interest rate in Canada, year by year
| Year | % | Change |
|---|---|---|
| 1960 | 5.8% | — |
| 1961 | 5.6% | -2.5% |
| 1962 | 5.7% | +1.9% |
| 1963 | 5.8% | +0.7% |
| 1964 | 5.8% | +0.0% |
| 1965 | 5.8% | +0.4% |
| 1966 | 6.0% | +4.0% |
| 1967 | 5.9% | -1.4% |
| 1968 | 6.9% | +16.9% |
| 1969 | 8.0% | +15.1% |
| 1970 | 8.2% | +2.6% |
| 1971 | 6.5% | -20.7% |
| 1972 | 6.0% | -7.4% |
| 1973 | 7.6% | +27.4% |
| 1974 | 10.8% | +40.6% |
| 1975 | 9.4% | -12.4% |
| 1976 | 10.0% | +6.6% |
| 1977 | 8.5% | -15.4% |
| 1978 | 9.7% | +14.0% |
| 1979 | 12.9% | +33.1% |
| 1980 | 14.2% | +10.5% |
| 1981 | 19.3% | +35.4% |
| 1982 | 15.8% | -18.0% |
| 1983 | 11.2% | -29.4% |
| 1984 | 12.1% | +8.0% |
| 1985 | 10.6% | -12.3% |
| 1986 | 10.5% | -0.6% |
| 1987 | 9.5% | -9.5% |
| 1988 | 10.8% | +13.8% |
| 1989 | 13.3% | +23.1% |
| 1990 | 14.1% | +5.5% |
| 1991 | 9.9% | -29.3% |
| 1992 | 7.5% | -24.7% |
| 1993 | 5.9% | -20.6% |
| 1994 | 6.9% | +15.8% |
| 1995 | 8.6% | +25.8% |
| 1996 | 6.1% | -29.9% |
| 1997 | 5.0% | -18.2% |
| 1998 | 6.6% | +33.2% |
| 1999 | 6.4% | -2.5% |
| 2000 | 7.3% | +12.9% |
| 2001 | 5.8% | -20.1% |
| 2002 | 4.2% | -27.6% |
| 2003 | 4.7% | +11.4% |
| 2004 | 4.0% | -14.7% |
| 2005 | 4.4% | +10.4% |
| 2006 | 5.8% | +31.6% |
| 2007 | 6.1% | +5.0% |
| 2008 | 4.7% | -22.5% |
| 2009 | 2.4% | -49.3% |
| 2010 | 2.6% | +8.7% |
| 2011 | 3.0% | +15.2% |
| 2012 | 3.0% | +0.0% |
| 2013 | 3.0% | +0.0% |
| 2014 | 3.0% | +0.0% |
| 2015 | 2.8% | -7.5% |
| 2016 | 2.7% | -2.7% |
| 2017 | 2.7% | +0.0% |
Canada compared with similar countries
- Canada's 2.7% is below the median for high income countries, which is 5.2%, 52% of the median. (42 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1960s | 6.1% | 5.6% | 8.0% | 10 |
| 1970s | 9.0% | 6.0% | 12.9% | 10 |
| 1980s | 12.7% | 9.5% | 19.3% | 10 |
| 1990s | 7.7% | 5.0% | 14.1% | 10 |
| 2000s | 4.9% | 2.4% | 7.3% | 10 |
| 2010s | 2.8% | 2.6% | 3.0% | 8 |
Countries ranked near Canada
- 143 United States 3.2% compare
- 144 Switzerland 3.0% compare
- 145 Israel 3.0% compare
- 147 Netherlands 1.5% compare
- 148 Japan 1.0% compare
- 149 United Kingdom 0.5% compare
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 lending interest rate in Canada?
- Lending interest rate in Canada was 2.7% in 2017, according to International Financial Statistics database, International Monetary Fund (IMF).
- What is the highest lending interest rate recorded in Canada?
- The highest recorded value was 19.3% in 1981.
- What is the lowest lending interest rate recorded in Canada?
- The lowest recorded value was 2.4% in 2009.
- How does Canada rank for lending interest rate?
- Canada ranks 146th out of 149 countries with data for 2017.
- Is lending interest rate rising or falling in Canada?
- Over the last ten years it is down 55.8%. The long-run trend across the full record is falling.
- Where does this Canada data come from?
- The figures come from International Financial Statistics database, International Monetary Fund (IMF), published as part of Lending interest rate (%). Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 58 observations, free to reuse under CC BY 4.0 (World Bank Open Data).
About this data
Lending rate is the bank rate that usually meets the short- and medium-term financing needs of the private sector. This rate is normally differentiated according to creditworthiness of borrowers and objectives of financing. The terms and conditions attached to these rates differ by country, however, limiting their comparability.