Interest Rates 2024 Canada Nz. Interest rate in canada averaged 5.77 percent from 1990 until 2024, reaching an all time high of 16.00 percent in february of 1991 and a record low of 0.25 percent in april of 2009. The bank of canada’s policy rate, which broadly informs the cost of borrowing across the country, now stands at 4.5 per cent.

09:45 (et) on eight scheduled dates each year, the bank of canada announces the setting for the overnight rate target in a press. The move was widely expected by economists.