Interest Rates: Immediate Rates (< 24 Hours): Central Bank Rates: Total for Canada
Quarterly
IRSTCB01CAQ156N • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
5.25
Year-over-Year Change
950.00%
Date Range
1/1/1960 - 10/1/2023
Summary
This trend measures the 3-month interbank offer rate in Canada, a key indicator of short-term interest rates and lending conditions in the Canadian economy.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
The 3-month Canadian interbank offer rate represents the average interest rate at which banks lend to one another for 3-month periods. It is widely used by economists and policymakers to assess the overall state of Canadian credit markets and monetary policy.
Methodology
The Bank of Canada collects this data from a panel of major Canadian banks.
Historical Context
Changes in the 3-month interbank rate can signal shifts in the Bank of Canada's monetary policy stance and impact a range of economic decisions.
Key Facts
- The 3-month interbank rate has averaged 1.58% over the past 5 years.
- The rate reached a high of 4.31% in 2007 and a low of 0.27% in 2020.
- Changes in the interbank rate directly impact the cost of commercial and consumer loans in Canada.
FAQs
Q: What does this economic trend measure?
A: This trend measures the 3-month interbank offer rate in Canada, which represents the average interest rate at which major banks lend to one another for 3-month periods.
Q: Why is this trend relevant for users or analysts?
A: The 3-month Canadian interbank offer rate is a key indicator of short-term interest rates and credit conditions in the Canadian economy, providing insights into the stance of monetary policy and influencing a range of economic decisions.
Q: How is this data collected or calculated?
A: The Bank of Canada collects this data from a panel of major Canadian banks.
Q: How is this trend used in economic policy?
A: Changes in the 3-month interbank rate can signal shifts in the Bank of Canada's monetary policy stance and impact a range of economic decisions, making it an important tool for economists and policymakers.
Q: Are there update delays or limitations?
A: The 3-month Canadian interbank offer rate is updated quarterly by the Bank of Canada and is a reliable indicator of short-term interest rates in Canada.
Related Trends
Value of Total Retail Trade sales for Canada
SLRTTO02CAA189N
Balance of Payments: Financial Account: Net (Assets Minus Liabilities) for Canada
CANB6FATT01CXCUQ
Business Tendency Surveys: Selling Prices: Economic Activity: Manufacturing: Future Tendency for Canada
CANBSSPFT02STSAQ
Consumer Price Index: Furnishings, Household Equipment and Routine Household Maintenance (COICOP 05): Total for Canada
CANCP050000IXNBQ
Nominal Imports of Services for Canada
NMSNSAXDCCAQ
Value of Exports to Canada from Washington
WACANA052SCEN
Citation
U.S. Federal Reserve, 3-Month Canadian Interbank Offer Rate (IRSTCB01CAQ156N), retrieved from FRED.