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Line chart showing the CRA prescribed interest rate holding at 3 percent for a fifth consecutive quarter.

The Canada Revenue Agency's prescribed interest rate has held at 3% for five consecutive quarters, the lowest sustained level since 2022, with the next quarter's rate set by three-month Treasury bill auctions underway this month. A prescribed-rate loan locks in whatever rate applies when it is made, for the life of that loan, so the window matters most before any increase. Bank of Canada governor Tiff Macklem has said further rate hikes remain possible if oil-driven inflation persists, which would eventually push the prescribed rate higher too.

This chart is presented for general informational purposes only and does not constitute financial, investment, tax, or legal advice. Figures reflect the source and period indicated and may no longer be current.

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