Explore the current and historical Canadian Prime Rate alongside the Bank of Canada Overnight Rate. Compare both with our detailed Canadian Prime Rate vs. Bank of Canada Overnight Rate chart. (1960 to 2025)
4.95%
2.75%
| Effective Date | Canadian Prime Rate | BAC Overnight Rate |
|---|---|---|
| June 1, 2025 | 4.95% | 2.75% |
| May 1, 2025 | 4.95% | 2.75% |
| April 1, 2025 | 4.95% | 2.75% |
| March 1, 2025 | 4.95% | 2.75% |
| February 1, 2025 | 5.2% | 3% |
| January 1, 2025 | 5.45% | 3% |
| December 1, 2024 | 5.45% | 3.25% |
| November 1, 2024 | 5.95% | 3.75% |
| October 1, 2024 | 5.95% | 3.75% |
| September 1, 2024 | 6.45% | 4.25% |
| August 1, 2024 | 6.7% | 4.5% |
| July 1, 2024 | 6.7% | 4.5% |
| June 1, 2024 | 6.95% | 4.75% |
| May 1, 2024 | 7.2% | 5% |
| April 1, 2024 | 7.2% | 5% |
| March 1, 2024 | 7.2% | 5% |
| February 1, 2024 | 7.2% | 5% |
| January 1, 2024 | 7.2% | 5% |
| December 1, 2023 | 7.2% | 5% |
| November 1, 2023 | 7.2% | 5% |
| October 1, 2023 | 7.2% | 5% |
| September 1, 2023 | 7.2% | 5% |
| August 1, 2023 | 7.2% | 5% |
| July 1, 2023 | 7.2% | 5% |
| June 1, 2023 | 6.95% | 4.75% |
| May 1, 2023 | 6.7% | 4.5% |
| April 1, 2023 | 6.7% | 4.5% |
| March 1, 2023 | 6.7% | 4.5% |
| February 1, 2023 | 6.7% | 4.5% |
| January 1, 2023 | 6.7% | 4.5% |
| December 1, 2022 | 6.45% | 4.25% |
| November 1, 2022 | 5.95% | 3.75% |
| October 1, 2022 | 5.45% | 3.75% |
| September 1, 2022 | 5.45% | 3.25% |
| August 1, 2022 | 4.7% | 2.5% |
| July 1, 2022 | 4.7% | 2.5% |
| June 1, 2022 | 3.7% | 1.5% |
| May 1, 2022 | 3.2% | 1% |
| April 1, 2022 | 3.2% | 1% |
| March 1, 2022 | 2.7% | 0.5% |
| February 1, 2022 | 2.45% | 0.25% |
| January 1, 2022 | 2.45% | 0.25% |
| December 1, 2021 | 2.45% | 0.25% |
| November 1, 2021 | 2.45% | 0.25% |
| October 1, 2021 | 2.45% | 0.25% |
| September 1, 2021 | 2.45% | 0.25% |
| August 1, 2021 | 2.45% | 0.25% |
| July 1, 2021 | 2.45% | 0.25% |
| June 1, 2021 | 2.45% | 0.25% |
| May 1, 2021 | 2.45% | 0.25% |
| April 1, 2021 | 2.45% | 0.25% |
| March 1, 2021 | 2.45% | 0.25% |
| February 1, 2021 | 2.45% | 0.25% |
| January 1, 2021 | 2.45% | 0.25% |
| December 1, 2020 | 2.45% | 0.25% |
| November 1, 2020 | 2.45% | 0.25% |
| October 1, 2020 | 2.45% | 0.25% |
| September 1, 2020 | 2.45% | 0.25% |
| August 1, 2020 | 2.45% | 0.25% |
| July 1, 2020 | 2.45% | 0.25% |
| June 1, 2020 | 2.45% | 0.25% |
| May 1, 2020 | 2.45% | 0.25% |
| April 1, 2020 | 2.45% | 0.25% |
| March 1, 2020 | 2.45% | 0.25% |
| February 1, 2020 | 3.95% | 1.75% |
| January 1, 2020 | 3.95% | 1.75% |
| December 1, 2019 | 3.95% | 1.75% |
| November 1, 2019 | 3.95% | 1.75% |
| October 1, 2019 | 3.95% | 1.75% |
| September 1, 2019 | 3.95% | 1.75% |
| August 1, 2019 | 3.95% | 1.75% |
| July 1, 2019 | 3.95% | 1.75% |
| June 1, 2019 | 3.95% | 1.75% |
| May 1, 2019 | 3.95% | 1.75% |
| April 1, 2019 | 3.95% | 1.75% |
| March 1, 2019 | 3.95% | 1.75% |
| February 1, 2019 | 3.95% | 1.75% |
| January 1, 2019 | 3.95% | 1.75% |
| December 1, 2018 | 3.95% | 1.75% |
| November 1, 2018 | 3.95% | 1.75% |
| October 1, 2018 | 3.95% | 1.75% |
| September 1, 2018 | 3.7% | 1.5% |
| August 1, 2018 | 3.7% | 1.5% |
| July 1, 2018 | 3.7% | 1.5% |
| June 1, 2018 | 3.45% | 1.25% |
| May 1, 2018 | 3.45% | 1.25% |
| April 1, 2018 | 3.45% | 1.25% |
| March 1, 2018 | 3.45% | 1.25% |
| February 1, 2018 | 3.45% | 1.25% |
| January 1, 2018 | 3.45% | 1.25% |
| December 1, 2017 | 3.2% | 1% |
| November 1, 2017 | 3.2% | 1% |
| October 1, 2017 | 3.2% | 1% |
| September 1, 2017 | 3.2% | 1% |
| August 1, 2017 | 2.95% | 0.75% |
| July 1, 2017 | 2.95% | 0.75% |
| June 1, 2017 | 2.7% | 0.5% |
| May 1, 2017 | 2.7% | 0.5% |
| April 1, 2017 | 2.7% | 0.5% |
| March 1, 2017 | 2.7% | 0.5% |
| February 1, 2017 | 2.7% | 0.5% |
| January 1, 2017 | 2.7% | 0.5% |
| December 1, 2016 | 2.7% | 0.5% |
| November 1, 2016 | 2.7% | 0.5% |
| October 1, 2016 | 2.7% | 0.5% |
| September 1, 2016 | 2.7% | 0.5% |
| August 1, 2016 | 2.7% | 0.5% |
| July 1, 2016 | 2.7% | 0.5% |
| June 1, 2016 | 2.7% | 0.5% |
| May 1, 2016 | 2.7% | 0.5% |
| April 1, 2016 | 2.7% | 0.5% |
| March 1, 2016 | 2.7% | 0.5% |
| February 1, 2016 | 2.7% | 0.5% |
| January 1, 2016 | 2.7% | 0.5% |
| December 1, 2015 | 2.7% | 0.5% |
| November 1, 2015 | 2.7% | 0.5% |
| October 1, 2015 | 2.7% | 0.5% |
| September 1, 2015 | 2.7% | 0.5% |
| August 1, 2015 | 2.7% | 0.5% |
| July 1, 2015 | 2.7% | 0.5% |
| June 1, 2015 | 2.85% | 0.75% |
| May 1, 2015 | 2.85% | 0.75% |
| April 1, 2015 | 2.85% | 0.75% |
| March 1, 2015 | 2.85% | 0.75% |
| February 1, 2015 | 2.85% | 0.75% |
| January 1, 2015 | 2.85% | 0.75% |
| December 1, 2014 | 3% | 1% |
| November 1, 2014 | 3% | 1% |
| October 1, 2014 | 3% | 1% |
| September 1, 2014 | 3% | 1% |
| August 1, 2014 | 3% | 1% |
| July 1, 2014 | 3% | 1% |
| June 1, 2014 | 3% | 1% |
| May 1, 2014 | 3% | 1% |
| April 1, 2014 | 3% | 1% |
| March 1, 2014 | 3% | 1% |
| February 1, 2014 | 3% | 1% |
| January 1, 2014 | 3% | 1% |
| December 1, 2013 | 3% | 1% |
| November 1, 2013 | 3% | 1% |
| October 1, 2013 | 3% | 1% |
| September 1, 2013 | 3% | 1% |
| August 1, 2013 | 3% | 1% |
| July 1, 2013 | 3% | 1% |
| June 1, 2013 | 3% | 1% |
| May 1, 2013 | 3% | 1% |
| April 1, 2013 | 3% | 1% |
| March 1, 2013 | 3% | 1% |
| February 1, 2013 | 3% | 1% |
| January 1, 2013 | 3% | 1% |
| December 1, 2012 | 3% | 1% |
| November 1, 2012 | 3% | 1% |
| October 1, 2012 | 3% | 1% |
| September 1, 2012 | 3% | 1% |
| August 1, 2012 | 3% | 1% |
| July 1, 2012 | 3% | 1% |
| June 1, 2012 | 3% | 1% |
| May 1, 2012 | 3% | 1% |
| April 1, 2012 | 3% | 1% |
| March 1, 2012 | 3% | 1% |
| February 1, 2012 | 3% | 1% |
| January 1, 2012 | 3% | 1% |
| December 1, 2011 | 3% | 1% |
| November 1, 2011 | 3% | 1% |
| October 1, 2011 | 3% | 1% |
| September 1, 2011 | 3% | 1% |
| August 1, 2011 | 3% | 1% |
| July 1, 2011 | 3% | 1% |
| June 1, 2011 | 3% | 1% |
| May 1, 2011 | 3% | 1% |
| April 1, 2011 | 3% | 1% |
| March 1, 2011 | 3% | 1% |
| February 1, 2011 | 3% | 1% |
| January 1, 2011 | 3% | 1% |
| December 1, 2010 | 3% | 1% |
| November 1, 2010 | 3% | 1% |
| October 1, 2010 | 3% | 1% |
| September 1, 2010 | 3% | 1% |
| August 1, 2010 | 2.75% | 0.75% |
| July 1, 2010 | 2.75% | 0.75% |
| June 1, 2010 | 2.5% | 0.5% |
| May 1, 2010 | 2.25% | 0.5% |
| April 1, 2010 | 2.25% | 0.25% |
| March 1, 2010 | 2.25% | 0.25% |
| February 1, 2010 | 2.25% | 0.25% |
| January 1, 2010 | 2.25% | 0.25% |
| December 1, 2009 | 2.25% | 0.25% |
| November 1, 2009 | 2.25% | 0.25% |
| October 1, 2009 | 2.25% | 0.25% |
| September 1, 2009 | 2.25% | 0.25% |
| August 1, 2009 | 2.25% | 0.25% |
| July 1, 2009 | 2.25% | 0.25% |
| June 1, 2009 | 2.25% | 0.25% |
| May 1, 2009 | 2.25% | 0.25% |
| April 1, 2009 | 2.25% | 0.25% |
| March 1, 2009 | 2.5% | 0.5% |
| February 1, 2009 | 3% | 1% |
| January 1, 2009 | 3% | 1% |
| December 1, 2008 | 3.5% | 1.5% |
| November 1, 2008 | 4% | 2.25% |
| October 1, 2008 | 4% | 2.25% |
| September 1, 2008 | 4.75% | 3% |
| August 1, 2008 | 4.75% | 3% |
| July 1, 2008 | 4.75% | 3% |
| June 1, 2008 | 4.75% | 3% |
| May 1, 2008 | 4.75% | 3% |
| April 1, 2008 | 4.75% | 3% |
| March 1, 2008 | 5.25% | 3.5% |
| February 1, 2008 | 5.75% | 4% |
| January 1, 2008 | 5.75% | 4% |
| December 1, 2007 | 6% | 4.25% |
| November 1, 2007 | 6.25% | 4.5% |
| October 1, 2007 | 6.25% | 4.5% |
| September 1, 2007 | 6.25% | 4.5% |
| August 1, 2007 | 6.25% | 4.5% |
| July 1, 2007 | 6.25% | 4.5% |
| June 1, 2007 | 6% | 4.25% |
| May 1, 2007 | 6% | 4.25% |
| April 1, 2007 | 6% | 4.25% |
| March 1, 2007 | 6% | 4.25% |
| February 1, 2007 | 6% | 4.25% |
| January 1, 2007 | 6% | 4.25% |
| December 1, 2006 | 6% | 4.25% |
| November 1, 2006 | 6% | 4.25% |
| October 1, 2006 | 6% | 4.25% |
| September 1, 2006 | 6% | 4.25% |
| August 1, 2006 | 6% | 4.25% |
| July 1, 2006 | 6% | 4.25% |
| June 1, 2006 | 6% | 4.25% |
| May 1, 2006 | 6% | 4.25% |
| April 1, 2006 | 5.75% | 4% |
| March 1, 2006 | 5.5% | 3.75% |
| February 1, 2006 | 5.25% | 3.5% |
| January 1, 2006 | 5.25% | 3.5% |
| December 1, 2005 | 5% | 3.25% |
| November 1, 2005 | 4.75% | 3% |
| October 1, 2005 | 4.75% | 3% |
| September 1, 2005 | 4.5% | 2.75% |
| August 1, 2005 | 4.25% | 2.5% |
| July 1, 2005 | 4.25% | 2.5% |
| June 1, 2005 | 4.25% | 2.5% |
| May 1, 2005 | 4.25% | 2.5% |
| April 1, 2005 | 4.25% | 2.5% |
| March 1, 2005 | 4.25% | 2.5% |
| February 1, 2005 | 4.25% | 2.5% |
| January 1, 2005 | 4.25% | 2.5% |
| December 1, 2004 | 4.25% | 2.5% |
| November 1, 2004 | 4.25% | 2.5% |
| October 1, 2004 | 4.25% | 2.5% |
| September 1, 2004 | 4% | 2.25% |
| August 1, 2004 | 3.75% | 2% |
| July 1, 2004 | 3.75% | 2% |
| June 1, 2004 | 3.75% | 2% |
| May 1, 2004 | 3.75% | 2% |
| April 1, 2004 | 3.75% | 2% |
| March 1, 2004 | 4% | 2.25% |
| February 1, 2004 | 4.25% | 2.5% |
| January 1, 2004 | 4.25% | 2.5% |
| December 1, 2003 | 4.5% | 2.75% |
| November 1, 2003 | 4.5% | 2.75% |
| October 1, 2003 | 4.5% | 2.75% |
| September 1, 2003 | 4.5% | 2.75% |
| August 1, 2003 | 4.75% | 3% |
| July 1, 2003 | 4.75% | 3% |
| June 1, 2003 | 5% | 3.25% |
| May 1, 2003 | 5% | 3.25% |
| April 1, 2003 | 5% | 3.25% |
| March 1, 2003 | 4.75% | 3% |
| February 1, 2003 | 4.5% | 2.75% |
| January 1, 2003 | 4.5% | 2.75% |
| December 1, 2002 | 4.5% | 2.75% |
| November 1, 2002 | 4.5% | 2.75% |
| October 1, 2002 | 4.5% | 2.75% |
| September 1, 2002 | 4.5% | 2.75% |
| August 1, 2002 | 4.5% | 2.75% |
| July 1, 2002 | 4.5% | 2.75% |
| June 1, 2002 | 4.25% | 2.5% |
| May 1, 2002 | 4% | 2.25% |
| April 1, 2002 | 4% | 2.25% |
| March 1, 2002 | 3.75% | 2% |
| February 1, 2002 | 3.75% | 2% |
| January 1, 2002 | 3.75% | 2% |
| December 1, 2001 | 4% | 2.25% |
| November 1, 2001 | 4% | 2.25% |
| October 1, 2001 | 4.5% | 2.75% |
| September 1, 2001 | 5.25% | 3.5% |
| August 1, 2001 | 5.75% | 4% |
| July 1, 2001 | 6% | 4.25% |
| June 1, 2001 | 6.25% | 4.5% |
| May 1, 2001 | 6.25% | 4.5% |
| April 1, 2001 | 6.5% | 4.75% |
| March 1, 2001 | 6.75% | 5% |
| February 1, 2001 | 7.25% | 5.5% |
| January 1, 2001 | 7.25% | 5.5% |
| December 1, 2000 | 7.5% | 5.75% |
| November 1, 2000 | 7.5% | 4.75% |
| October 1, 2000 | 7.5% | 4.75% |
| September 1, 2000 | 7.5% | 4.75% |
| August 1, 2000 | 7.5% | 4.75% |
| July 1, 2000 | 7.5% | 4.75% |
| June 1, 2000 | 7.5% | 4.75% |
| May 1, 2000 | 7.5% | 4.75% |
| April 1, 2000 | 7% | 4.75% |
| March 1, 2000 | 7% | 4.75% |
| February 1, 2000 | 6.75% | 4.75% |
| January 1, 2000 | 6.5% | 4.75% |
| December 1, 1999 | 6.5% | 4.75% |
| November 1, 1999 | 6.5% | 4.75% |
| October 1, 1999 | 6.25% | 4.5% |
| September 1, 1999 | 6.25% | 4.5% |
| August 1, 1999 | 6.25% | 4.5% |
| July 1, 1999 | 6.25% | 4.5% |
| June 1, 1999 | 6.25% | 4.5% |
| May 1, 1999 | 6.25% | 4.5% |
| April 1, 1999 | 6.5% | 4.75% |
| March 1, 1999 | 6.75% | 4.75% |
| February 1, 1999 | 6.75% | 5% |
| January 1, 1999 | 6.75% | 5% |
| December 1, 1998 | 6.75% | 5% |
| November 1, 1998 | 6.75% | 5% |
| October 1, 1998 | 7% | 5.25% |
| September 1, 1998 | 7.25% | 5.5% |
| August 1, 1998 | 6.5% | 4.75% |
| July 1, 1998 | 6.5% | 4.75% |
| June 1, 1998 | 6.5% | 4.75% |
| May 1, 1998 | 6.5% | 4.75% |
| April 1, 1998 | 6.5% | 4.75% |
| March 1, 1998 | 6.5% | 4.75% |
| February 1, 1998 | 6.5% | 4.75% |
| January 1, 1998 | 6% | 4.25% |
| December 1, 1997 | 6% | 4.25% |
| November 1, 1997 | 5.5% | 3.75% |
| October 1, 1997 | 5.25% | 3.5% |
| September 1, 1997 | 4.75% | 3.25% |
| August 1, 1997 | 4.75% | 3.25% |
| July 1, 1997 | 4.75% | 3.25% |
| June 1, 1997 | 4.75% | 3% |
| May 1, 1997 | 4.75% | 3% |
| April 1, 1997 | 4.75% | 3% |
| March 1, 1997 | 4.75% | 3% |
| February 1, 1997 | 4.75% | 3% |
| January 1, 1997 | 4.75% | 3% |
| December 1, 1996 | 4.75% | 3% |
| November 1, 1996 | 4.75% | 3% |
| October 1, 1996 | 5% | 3.25% |
| September 1, 1996 | 5.75% | 4% |
| August 1, 1996 | 5.75% | 4% |
| July 1, 1996 | 6.25% | 4.5% |
| June 1, 1996 | 6.5% | 4.75% |
| May 1, 1996 | 6.5% | 4.75% |
| April 1, 1996 | 6.5% | 4.75% |
| March 1, 1996 | 6.75% | 5% |
| February 1, 1996 | 7% | 5.25% |
| January 1, 1996 | 7.25% | 5.12% |
| December 1, 1995 | 7.5% | 5.54% |
| November 1, 1995 | 7.75% | 5.82% |
| October 1, 1995 | 7.75% | 7.4% |
| September 1, 1995 | 8% | 6.46% |
| August 1, 1995 | 8% | 6.34% |
| July 1, 1995 | 8.25% | 6.62% |
| June 1, 1995 | 8.75% | 6.72% |
| May 1, 1995 | 9.25% | 7.39% |
| April 1, 1995 | 9.75% | 7.92% |
| March 1, 1995 | 9.75% | 8.22% |
| February 1, 1995 | 9.25% | 8.13% |
| January 1, 1995 | 9.25% | 8.13% |
| December 1, 1994 | 8% | 7.18% |
| November 1, 1994 | 7% | 5.79% |
| October 1, 1994 | 7% | 5.37% |
| September 1, 1994 | 7% | 5.29% |
| August 1, 1994 | 7.25% | 5.35% |
| July 1, 1994 | 7.5% | 5.79% |
| June 1, 1994 | 8% | 6.67% |
| May 1, 1994 | 6.75% | 6.06% |
| April 1, 1994 | 6.75% | 5.82% |
| March 1, 1994 | 6.25% | 5.39% |
| February 1, 1994 | 5.5% | 3.85% |
| January 1, 1994 | 5.5% | 3.63% |
| December 1, 1993 | 5.5% | 3.86% |
| November 1, 1993 | 5.5% | 4.11% |
| October 1, 1993 | 5.75% | 4.38% |
| September 1, 1993 | 5.75% | 4.65% |
| August 1, 1993 | 5.75% | 4.65% |
| July 1, 1993 | 5.75% | 4.16% |
| June 1, 1993 | 6% | 4.54% |
| May 1, 1993 | 6% | 4.85% |
| April 1, 1993 | 6% | 5.35% |
| March 1, 1993 | 6% | 5.11% |
| February 1, 1993 | 6.5% | 5.84% |
| January 1, 1993 | 6.75% | 6.56% |
| December 1, 1992 | 7.25% | 7.11% |
| November 1, 1992 | 9.75% | 8.57% |
| October 1, 1992 | 7.75% | 7.12% |
| September 1, 1992 | 6.25% | 5.44% |
| August 1, 1992 | 6.5% | 4.86% |
| July 1, 1992 | 6.75% | 5.25% |
| June 1, 1992 | 7% | 5.66% |
| May 1, 1992 | 7.5% | 6.25% |
| April 1, 1992 | 7.75% | 6.6% |
| March 1, 1992 | 8.25% | 7.4% |
| February 1, 1992 | 7.5% | 7.31% |
| January 1, 1992 | 7.5% | 6.83% |
| December 1, 1991 | 8% | 7.42% |
| November 1, 1991 | 8.5% | 7.44% |
| October 1, 1991 | 8.75% | 7.92% |
| September 1, 1991 | 9.5% | 8.43% |
| August 1, 1991 | 9.75% | 8.55% |
| July 1, 1991 | 9.75% | 8.69% |
| June 1, 1991 | 9.75% | 8.66% |
| May 1, 1991 | 9.75% | 8.82% |
| April 1, 1991 | 10.25% | 9.41% |
| March 1, 1991 | 11.25% | 9.67% |
| February 1, 1991 | 11.25% | 9.77% |
| January 1, 1991 | 12.25% | 10.63% |
| December 1, 1990 | 12.75% | 11.53% |
| November 1, 1990 | 13.25% | 12% |
| October 1, 1990 | 13.75% | 12.41% |
| September 1, 1990 | 13.75% | 12.36% |
| August 1, 1990 | 14.25% | 12.76% |
| July 1, 1990 | 14.75% | 13.34% |
| June 1, 1990 | 14.75% | 13.65% |
| May 1, 1990 | 14.75% | 13.8% |
| April 1, 1990 | 14.75% | 13.52% |
| March 1, 1990 | 14.25% | 13.13% |
| February 1, 1990 | 14.25% | 13% |
| January 1, 1990 | 13.5% | 12.04% |
| December 1, 1989 | 13.5% | 12.22% |
| November 1, 1989 | 13.5% | 12.22% |
| October 1, 1989 | 13.5% | 12.18% |
| September 1, 1989 | 13.5% | 12.22% |
| August 1, 1989 | 13.5% | 12.15% |
| July 1, 1989 | 13.5% | 12.07% |
| June 1, 1989 | 13.5% | 12.06% |
| May 1, 1989 | 13.5% | 12.15% |
| April 1, 1989 | 13.5% | 12.36% |
| March 1, 1989 | 13.5% | 12.15% |
| February 1, 1989 | 12.75% | 11.45% |
| January 1, 1989 | 12.25% | 11.29% |
| December 1, 1988 | 12.25% | 10.92% |
| November 1, 1988 | 11.75% | 10.59% |
| October 1, 1988 | 11.75% | 10.26% |
| September 1, 1988 | 11.75% | 10.29% |
| August 1, 1988 | 11.25% | 9.78% |
| July 1, 1988 | 10.75% | 9.28% |
| June 1, 1988 | 10.75% | 9.19% |
| May 1, 1988 | 10.25% | 8.87% |
| April 1, 1988 | 10.25% | 8.81% |
| March 1, 1988 | 9.75% | 8.53% |
| February 1, 1988 | 9.75% | 8.33% |
| January 1, 1988 | 9.75% | 8.38% |
| December 1, 1987 | 9.75% | 8.41% |
| November 1, 1987 | 9.75% | 8.23% |
| October 1, 1987 | 9.75% | 8.01% |
| September 1, 1987 | 10% | 9.32% |
| August 1, 1987 | 10% | 8.99% |
| July 1, 1987 | 9.5% | 8.51% |
| June 1, 1987 | 9.5% | 8.34% |
| May 1, 1987 | 9.5% | 8.29% |
| April 1, 1987 | 9.25% | 8.01% |
| March 1, 1987 | 8.75% | 6.89% |
| February 1, 1987 | 9.25% | 7.34% |
| January 1, 1987 | 9.25% | 7.49% |
| December 1, 1986 | 9.75% | 8.24% |
| November 1, 1986 | 9.75% | 8.22% |
| October 1, 1986 | 9.75% | 8.37% |
| September 1, 1986 | 9.75% | 8.38% |
| August 1, 1986 | 9.75% | 8.33% |
| July 1, 1986 | 9.75% | 8.38% |
| June 1, 1986 | 10.25% | 8.59% |
| May 1, 1986 | 10.25% | 8.18% |
| April 1, 1986 | 11.25% | 9.02% |
| March 1, 1986 | 12% | 10.19% |
| February 1, 1986 | 13% | 11.59% |
| January 1, 1986 | 11% | 10.08% |
| December 1, 1985 | 10% | 9.24% |
| November 1, 1985 | 10% | 8.73% |
| October 1, 1985 | 10% | 8.52% |
| September 1, 1985 | 10.25% | 9.06% |
| August 1, 1985 | 10.25% | 8.95% |
| July 1, 1985 | 10.5% | 9.06% |
| June 1, 1985 | 10.5% | 9.32% |
| May 1, 1985 | 10.5% | 9.34% |
| April 1, 1985 | 10.75% | 9.5% |
| March 1, 1985 | 11.75% | 10.93% |
| February 1, 1985 | 11.5% | 10.7% |
| January 1, 1985 | 11% | 9.41% |
| December 1, 1984 | 11.25% | 9.91% |
| November 1, 1984 | 12% | 10.53% |
| October 1, 1984 | 12.5% | 11.46% |
| September 1, 1984 | 13% | 12.03% |
| August 1, 1984 | 13% | 12.14% |
| July 1, 1984 | 13.5% | 12.99% |
| June 1, 1984 | 12.5% | 11.73% |
| May 1, 1984 | 12% | 11.35% |
| April 1, 1984 | 11.5% | 10.57% |
| March 1, 1984 | 11.5% | 10.51% |
| February 1, 1984 | 11% | 9.79% |
| January 1, 1984 | 11% | 9.73% |
| December 1, 1983 | 11% | 9.79% |
| November 1, 1983 | 11% | 9.38% |
| October 1, 1983 | 11% | 9.2% |
| September 1, 1983 | 11% | 9.27% |
| August 1, 1983 | 11% | 9.32% |
| July 1, 1983 | 11% | 9.26% |
| June 1, 1983 | 11% | 9.17% |
| May 1, 1983 | 11% | 9.13% |
| April 1, 1983 | 11% | 9.21% |
| March 1, 1983 | 11.5% | 9.17% |
| February 1, 1983 | 11.5% | 9.18% |
| January 1, 1983 | 12% | 9.56% |
| December 1, 1982 | 12.5% | 10.01% |
| November 1, 1982 | 13% | 10.62% |
| October 1, 1982 | 13.75% | 11.28% |
| September 1, 1982 | 15% | 12.93% |
| August 1, 1982 | 16% | 14.01% |
| July 1, 1982 | 17.25% | 15.35% |
| June 1, 1982 | 18.25% | 16.33% |
| May 1, 1982 | 17% | 15.07% |
| April 1, 1982 | 17% | 15.07% |
| March 1, 1982 | 17% | 14.86% |
| February 1, 1982 | 16.5% | 14.49% |
| January 1, 1982 | 16.5% | 14.47% |
| December 1, 1981 | 17.25% | 14.41% |
| November 1, 1981 | 17.25% | 15.15% |
| October 1, 1981 | 20% | 18.05% |
| September 1, 1981 | 21.25% | 19.38% |
| August 1, 1981 | 22.75% | 20.78% |
| July 1, 1981 | 21% | 19.64% |
| June 1, 1981 | 20% | 18.82% |
| May 1, 1981 | 19.5% | 18.81% |
| April 1, 1981 | 18.25% | 17.15% |
| March 1, 1981 | 17.75% | 16.34% |
| February 1, 1981 | 18.25% | 16.89% |
| January 1, 1981 | 18.25% | 16.75% |
| December 1, 1980 | 18.25% | 17.01% |
| November 1, 1980 | 13.75% | 12.81% |
| October 1, 1980 | 12.75% | 11.51% |
| September 1, 1980 | 12.25% | 10.77% |
| August 1, 1980 | 12.25% | 10.2% |
| July 1, 1980 | 12.25% | 9.93% |
| June 1, 1980 | 13.25% | 10.42% |
| May 1, 1980 | 13.75% | 11.58% |
| April 1, 1980 | 16.75% | 15.42% |
| March 1, 1980 | 15.75% | 14.54% |
| February 1, 1980 | 15% | 13.75% |
| January 1, 1980 | 15% | 13.75% |
| December 1, 1979 | 15% | 13.75% |
| November 1, 1979 | 15% | 13.75% |
| October 1, 1979 | 14.75% | 13.75% |
| September 1, 1979 | 13% | 12% |
| August 1, 1979 | 12.5% | 11.5% |
| July 1, 1979 | 12.5% | 11.5% |
| June 1, 1979 | 12% | 11% |
| May 1, 1979 | 12% | 11% |
| April 1, 1979 | 12% | 11% |
| March 1, 1979 | 12% | 11% |
| February 1, 1979 | 12% | 11% |
| January 1, 1979 | 12% | 11% |
| December 1, 1978 | 11.5% | 10.5% |
| November 1, 1978 | 11.5% | 10.5% |
| October 1, 1978 | 11% | 10% |
| September 1, 1978 | 10.25% | 9.25% |
| August 1, 1978 | 9.75% | 8.75% |
| July 1, 1978 | 9.25% | 8.75% |
| June 1, 1978 | 9.25% | 8.25% |
| May 1, 1978 | 9.25% | 8.25% |
| April 1, 1978 | 9.25% | 8.25% |
| March 1, 1978 | 8.75% | 7.75% |
| February 1, 1978 | 8.25% | 7.25% |
| January 1, 1978 | 8.25% | 7.25% |
| December 1, 1977 | 8.25% | 7.25% |
| November 1, 1977 | 8.25% | 7.25% |
| October 1, 1977 | 8.25% | 7.25% |
| September 1, 1977 | 8.25% | 7.25% |
| August 1, 1977 | 8.25% | 7.25% |
| July 1, 1977 | 8.25% | 7.25% |
| June 1, 1977 | 8.25% | 7.25% |
| May 1, 1977 | 8.25% | 7.25% |
| April 1, 1977 | 8.75% | 7.75% |
| March 1, 1977 | 8.75% | 7.75% |
| February 1, 1977 | 8.75% | 7.75% |
| January 1, 1977 | 9.25% | 8.25% |
| December 1, 1976 | 9.25% | 8.25% |
| November 1, 1976 | 9.75% | 8.75% |
| October 1, 1976 | 10.25% | 9.25% |
| September 1, 1976 | 10.25% | 9.25% |
| August 1, 1976 | 10.25% | 9.25% |
| July 1, 1976 | 10.25% | 9.25% |
| June 1, 1976 | 10.25% | 9.25% |
| May 1, 1976 | 10.25% | 9.25% |
| April 1, 1976 | 10.25% | 9.25% |
| March 1, 1976 | 10.25% | 9.25% |
| February 1, 1976 | 9.75% | 8.75% |
| January 1, 1976 | 9.75% | 8.75% |
| December 1, 1975 | 9.75% | 8.75% |
| November 1, 1975 | 9.75% | 8.75% |
| October 1, 1975 | 9.75% | 8.75% |
| September 1, 1975 | 9.75% | 8.75% |
| August 1, 1975 | 9% | 8% |
| July 1, 1975 | 9% | 8% |
| June 1, 1975 | 9% | 8% |
| May 1, 1975 | 9% | 8% |
| April 1, 1975 | 9% | 8% |
| March 1, 1975 | 9% | 8% |
| February 1, 1975 | 9.5% | 8% |
| January 1, 1975 | 10.5% | 8% |
| December 1, 1974 | 11% | 8.5% |
| November 1, 1974 | 10.75% | 8.5% |
| October 1, 1974 | 10.75% | 9% |
| September 1, 1974 | 10.75% | 9% |
| August 1, 1974 | 10.75% | 9% |
| July 1, 1974 | 10.75% | 9% |
| June 1, 1974 | 10.75% | 8.5% |
| May 1, 1974 | 10.75% | 8.5% |
| April 1, 1974 | 10.75% | 8% |
| March 1, 1974 | 10.75% | 7% |
| February 1, 1974 | 10.75% | 7% |
| January 1, 1974 | 10.75% | 7% |
| December 1, 1973 | 7.65% | 7% |
| November 1, 1973 | 7.65% | 7% |
| October 1, 1973 | 7.65% | 7% |
| September 1, 1973 | 7.65% | 7% |
| August 1, 1973 | 7.65% | 6.5% |
| July 1, 1973 | 7.65% | 6% |
| June 1, 1973 | 7.65% | 6% |
| May 1, 1973 | 7.65% | 5.5% |
| April 1, 1973 | 7.65% | 5% |
| March 1, 1973 | 7.65% | 4.5% |
| February 1, 1973 | 7.65% | 4.5% |
| January 1, 1973 | 7.65% | 4.5% |
| December 1, 1972 | 6% | 4.5% |
| November 1, 1972 | 6% | 4.5% |
| October 1, 1972 | 6% | 4.5% |
| September 1, 1972 | 6% | 4.5% |
| August 1, 1972 | 6% | 4.5% |
| July 1, 1972 | 6% | 4.5% |
| June 1, 1972 | 6% | 4.5% |
| May 1, 1972 | 6% | 4.5% |
| April 1, 1972 | 6% | 4.5% |
| March 1, 1972 | 6% | 4.5% |
| February 1, 1972 | 6% | 4.5% |
| January 1, 1972 | 6% | 4.5% |
| December 1, 1971 | 6.48% | 4.5% |
| November 1, 1971 | 6.48% | 4.5% |
| October 1, 1971 | 6.48% | 4.5% |
| September 1, 1971 | 6.48% | 5% |
| August 1, 1971 | 6.48% | 5% |
| July 1, 1971 | 6.48% | 5% |
| June 1, 1971 | 6.48% | 5% |
| May 1, 1971 | 6.48% | 5% |
| April 1, 1971 | 6.48% | 5% |
| March 1, 1971 | 6.48% | 5% |
| February 1, 1971 | 6.48% | 5% |
| January 1, 1971 | 6.48% | 5.75% |
| December 1, 1970 | 8.17% | 5.75% |
| November 1, 1970 | 8.17% | 5.75% |
| October 1, 1970 | 8.17% | 6.25% |
| September 1, 1970 | 8.17% | 6.25% |
| August 1, 1970 | 8.17% | 6.75% |
| July 1, 1970 | 8.17% | 6.75% |
| June 1, 1970 | 8.17% | 6.75% |
| May 1, 1970 | 8.17% | 7.25% |
| April 1, 1970 | 8.17% | 7.75% |
| March 1, 1970 | 8.17% | 7.75% |
| February 1, 1970 | 8.17% | 7.75% |
| January 1, 1970 | 8.17% | 7.75% |
| December 1, 1969 | 7.96% | 7.75% |
| November 1, 1969 | 7.96% | 7.75% |
| October 1, 1969 | 7.96% | 7.75% |
| September 1, 1969 | 7.96% | 7.75% |
| August 1, 1969 | 7.96% | 7.75% |
| July 1, 1969 | 7.96% | 7.75% |
| June 1, 1969 | 7.96% | 7.25% |
| May 1, 1969 | 7.96% | 6.75% |
| April 1, 1969 | 7.96% | 6.75% |
| March 1, 1969 | 7.96% | 6.75% |
| February 1, 1969 | 7.96% | 6.25% |
| January 1, 1969 | 7.96% | 6.25% |
| December 1, 1968 | 6.92% | 6.25% |
| November 1, 1968 | 6.92% | 5.75% |
| October 1, 1968 | 6.92% | 5.75% |
| September 1, 1968 | 6.92% | 5.75% |
| August 1, 1968 | 6.92% | 6.25% |
| July 1, 1968 | 6.92% | 6.25% |
| June 1, 1968 | 6.92% | 7.25% |
| May 1, 1968 | 6.92% | 7.25% |
| April 1, 1968 | 6.92% | 7.25% |
| March 1, 1968 | 6.92% | 7.25% |
| February 1, 1968 | 6.92% | 6.75% |
| January 1, 1968 | 6.92% | 6.75% |
| December 1, 1967 | 5.92% | 5.75% |
| November 1, 1967 | 5.92% | 5.75% |
| October 1, 1967 | 5.92% | 4.75% |
| September 1, 1967 | 5.92% | 4.75% |
| August 1, 1967 | 5.92% | 4.25% |
| July 1, 1967 | 5.92% | 4.25% |
| June 1, 1967 | 5.92% | 4.25% |
| May 1, 1967 | 5.92% | 4.25% |
| April 1, 1967 | 5.92% | 4.25% |
| March 1, 1967 | 5.92% | 4.75% |
| February 1, 1967 | 5.92% | 4.75% |
| January 1, 1967 | 5.92% | 5% |
| December 1, 1966 | 6% | 5% |
| November 1, 1966 | 6% | 5% |
| October 1, 1966 | 6% | 5% |
| September 1, 1966 | 6% | 5% |
| August 1, 1966 | 6% | 5% |
| July 1, 1966 | 6% | 5% |
| June 1, 1966 | 6% | 5% |
| May 1, 1966 | 6% | 5% |
| April 1, 1966 | 6% | 5% |
| March 1, 1966 | 6% | 5% |
| February 1, 1966 | 6% | 4.5% |
| January 1, 1966 | 6% | 4.5% |
| December 1, 1965 | 5.77% | 4.5% |
| November 1, 1965 | 5.77% | 4% |
| October 1, 1965 | 5.77% | 4% |
| September 1, 1965 | 5.77% | 4% |
| August 1, 1965 | 5.77% | 4% |
| July 1, 1965 | 5.77% | 4% |
| June 1, 1965 | 5.77% | 4% |
| May 1, 1965 | 5.77% | 4% |
| April 1, 1965 | 5.77% | 4% |
| March 1, 1965 | 5.77% | 4% |
| February 1, 1965 | 5.77% | 4% |
| January 1, 1965 | 5.77% | 4% |
| December 1, 1964 | 5.75% | 4% |
| November 1, 1964 | 5.75% | 4% |
| October 1, 1964 | 5.75% | 3.75% |
| September 1, 1964 | 5.75% | 3.75% |
| August 1, 1964 | 5.75% | 3.75% |
| July 1, 1964 | 5.75% | 3.75% |
| June 1, 1964 | 5.75% | 3.75% |
| May 1, 1964 | 5.75% | 3.75% |
| April 1, 1964 | 5.75% | 3.75% |
| March 1, 1964 | 5.75% | 3.75% |
| February 1, 1964 | 5.75% | 3.75% |
| January 1, 1964 | 5.75% | 3.75% |
| December 1, 1963 | 5.75% | 3.75% |
| November 1, 1963 | 5.75% | 3.75% |
| October 1, 1963 | 5.75% | 3.75% |
| September 1, 1963 | 5.75% | 3.75% |
| August 1, 1963 | 5.75% | 3.75% |
| July 1, 1963 | 5.75% | 3.25% |
| June 1, 1963 | 5.75% | 3.25% |
| May 1, 1963 | 5.75% | 3.25% |
| April 1, 1963 | 5.75% | 3.75% |
| March 1, 1963 | 5.75% | 3.75% |
| February 1, 1963 | 5.75% | 3.75% |
| January 1, 1963 | 5.75% | 3.75% |
| December 1, 1962 | 5.71% | 3.75% |
| November 1, 1962 | 5.71% | 3.75% |
| October 1, 1962 | 5.71% | 4.75% |
| September 1, 1962 | 5.71% | 5.25% |
| August 1, 1962 | 5.71% | 5.75% |
| July 1, 1962 | 5.71% | 5.75% |
| June 1, 1962 | 5.71% | 5.75% |
| May 1, 1962 | 5.71% | 3.5% |
| April 1, 1962 | 5.71% | 3.1% |
| March 1, 1962 | 5.71% | 3.1% |
| February 1, 1962 | 5.71% | 3.17% |
| January 1, 1962 | 5.71% | 3.1% |
| December 1, 1961 | 5.6% | 2.93% |
| November 1, 1961 | 5.6% | 2.42% |
| October 1, 1961 | 5.6% | 2.49% |
| September 1, 1961 | 5.6% | 2.42% |
| August 1, 1961 | 5.6% | 2.51% |
| July 1, 1961 | 5.6% | 2.63% |
| June 1, 1961 | 5.6% | 2.55% |
| May 1, 1961 | 5.6% | 3.17% |
| April 1, 1961 | 5.6% | 3.32% |
| March 1, 1961 | 5.6% | 3.21% |
| February 1, 1961 | 5.6% | 2.86% |
| January 1, 1961 | 5.6% | 3.22% |
| December 1, 1960 | 5.75% | 3.46% |
| November 1, 1960 | 5.75% | 3.77% |
| October 1, 1960 | 5.75% | 2.87% |
| September 1, 1960 | 5.75% | 1.68% |
| August 1, 1960 | 5.75% | 2.25% |
| July 1, 1960 | 5.75% | 3.19% |
| June 1, 1960 | 5.75% | 3.07% |
| May 1, 1960 | 5.75% | 2.99% |
| April 1, 1960 | 5.75% | 3.5% |
| March 1, 1960 | 5.75% | 3.41% |
| February 1, 1960 | 5.75% | 4.62% |
| January 1, 1960 | 5.75% | 4.66% |
What is the Canadian Prime Rate and how is it determined?
The current Canadian Prime Rate is 4.95. The Canadian Prime Rate serves as a guide for banks in Canada to determine interest rates for their loans. These loans include variable-rate mortgages and lines of credit. The rate is determined by the Bank of Canada Overnight Rate plus an additional percentage to cover the bank's operating costs and loan risks. The spread between the prime rate and the overnight rate typically ranges from 1.5% to 3%.
What is the Bank of Canada Overnight Rate and why does it matter?
The current Canadian Prime Rate is 2.75. The Bank of Canada Overnight Rate is the main interest rate at which major banks lend and borrow money overnight from one another. It is the central bank's primary tool for controlling the rates at which other banks in Canada loan out money to people or institutions. This means it impacts major loans such as mortgages, business loans, and car loans. As such, this rate has a massive impact on Canada’s economy and is used as the primary tool for controlling inflation, house prices, and more. A shift in this rate has borrowing implications across the overall financial system.
How does the Bank of Canada Overnight Rate affect the Canadian Prime Rate?
The Bank of Canada Overnight Rate is used as the base lending rate for banks. This is because it is the rate at which they and other institutions are able to borrow money from the Bank of Canada. The banks must also cover their operating expenses and loan risks. As such, they add a few percentage points to the overnight rate, which then becomes the Canadian Prime Rate. This means that the two rates are very closely tied together and are often within 1 to 3 percentage points of each other.
How do changes in the Canadian Prime Rate impact consumers and businesses?
Changes in the Canadian Prime Rate can have large impacts on consumers and businesses, since most loans follow the prime rate as a guide. This includes variable-rate loans, credit cards, and mortgages. As a result, customers are forced to pay more for owning a home or a car, leading to less spending and slower economic activity. These rate changes are crucial tools in managing inflation and supporting economic stability.