Prime Interest Rate Forecast

Prime Interest Rate Forecasts from the 6 Major Banks.

Here are the latest rate forecasts from the Banks. On average, the Banks expect the overnight rate to increase to 1.25% by the end of 2022.

By the end of 2023, on average the Banks are expecting the overnight rate to be 1.75%.

 Target Rate:
Year-end ’21
Target Rate:
Year-end ’22
Target Rate:
Year-end ’23
5-Year BoC Bond Yield:
Year-end ’21
5-Year BoC Bond Yield:
Year-end ’22
BMO0.25%1.25%NA1.45%1.80%
CIBC0.25%1.00%1.75%NANA
NBC0.25%1.50%1.75%1.40%1.90%
RBC0.25%1.00%1.75%1.25%1.65%
Scotiabank0.25%1.25%2.25%1.50%2.05%
TD Bank0.25%1.00%1.75%1.35%1.90%
 

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