Canada: economic indicators
Bank of Canada policy rate (target for the overnight rate) was 2.25% in September 2026, down 0.25 pp from September 2025 (Bank of Canada). Consumer price inflation was 3.09% in September 2026, below its five-year average of 3.67% (Statistics Canada). Every Canada series on the site is listed below by theme, with its latest reading and change on a year earlier.
Key takeaways
- The unemployment rate stood at 6.50% in September 2026, against a five-year low of 4.80% (July 2022) and a high of 7.10% (August 2025) (Statistics Canada).
- Ten-year government bond yields were above shorter yields by 0.62 pp in September 2026, so the yield curve was upward sloping (Bank of Canada).
- Real GDP grew by 0.80% in Q2 2026 on the previous quarter (Statistics Canada).
What the latest data says
Canadian data on this page comes from the Bank of Canada and Statistics Canada. Household borrowing gets particular attention because Canadian households carry high debt relative to income, and the debt-to-income ratio is one of the series the Bank of Canada itself watches.
- Household credit market debt reached C$3,280.9 bn in Q2 2026, up 4.2% on a year earlier (Statistics Canada).
Biggest moves in the latest readings
- Real GDP growth (quarter on quarter, not annualized): up 0.70 pp to 0.80% in Q2 2026, a move of 32% of its five-year range.
- Household credit market debt to disposable income: down 2.18 pp to 176.37% in Q2 2026, a move of 15% of its five-year range.
- Government of Canada 10-year benchmark bond yield: up 0.21 pp to 3.88% in September 2026, a move of 7% of its five-year range.
- Government of Canada 2-year benchmark bond yield: up 0.31 pp to 3.27% in September 2026, a move of 7% of its five-year range.
- Real GDP (expenditure-based): up 0.8% to C$2,524.1 bn in Q2 2026, a move of 7% of its five-year range.
Policy rates
The Bank of Canada announces its target for the overnight rate on eight fixed dates a year; the series here is the target at each month end. CORRA, the Canadian Overnight Repo Rate Average, measures what overnight funding secured by government bonds actually costs and normally sits close to the target.
| Indicator | Latest | Period | Change on a year earlier | Source |
|---|---|---|---|---|
| CORRA (Canadian Overnight Repo Rate Average) | 2.29% | September 2026 | -0.41 pp | Bank of Canada |
| Bank of Canada policy rate (target for the overnight rate) | 2.25% | September 2026 | -0.25 pp | Bank of Canada |
Bond yields and markets
Benchmark Government of Canada bond yields come from the Bank of Canada. The two-year yield moves with expectations for the overnight rate, while the ten-year yield also reflects the longer-run outlook for growth and inflation and moves with global bond markets.
| Indicator | Latest | Period | Change on a year earlier | Source |
|---|---|---|---|---|
| Government of Canada 10-year benchmark bond yield | 3.88% | September 2026 | +0.66 pp | Bank of Canada |
| Government of Canada 10-year minus 2-year yield spread | 0.62 pp | September 2026 | -0.10 pp | Bank of Canada |
| Government of Canada 2-year benchmark bond yield | 3.27% | September 2026 | +0.76 pp | Bank of Canada |
Inflation
Statistics Canada publishes the consumer price index each month. The Bank of Canada aims to keep inflation at 2%, the midpoint of a control range of 1% to 3%.
| Indicator | Latest | Period | Change on a year earlier | Source |
|---|---|---|---|---|
| Consumer price index, all-items | 170.0 | September 2026 | +3.1% | Statistics Canada |
| CPI inflation, 12-month change | 3.09% | September 2026 | +0.73 pp | Statistics Canada |
Credit and lending
Household credit market debt covers mortgages, consumer credit and other loans to households, from Statistics Canada's national balance sheet accounts. Debt to disposable income compares that debt with what households earn after tax, a common gauge of how stretched borrowers are.
| Indicator | Latest | Period | Change on a year earlier | Source |
|---|---|---|---|---|
| Household credit market debt | C$3,280.9 bn | Q2 2026 | +4.2% | Statistics Canada |
| Household credit market debt to disposable income | 176.37% | Q2 2026 | -0.97 pp | Statistics Canada |
Activity and labor
Statistics Canada publishes real GDP monthly, by industry at basic prices, and quarterly on the expenditure side; the monthly figure arrives sooner. The unemployment rate comes from the monthly Labour Force Survey.
| Indicator | Latest | Period | Change on a year earlier | Source |
|---|---|---|---|---|
| Real GDP at basic prices, all industries (monthly) | C$2,371.8 bn | July 2026 | +1.4% | Statistics Canada |
| Real GDP (expenditure-based) | C$2,524.1 bn | Q2 2026 | +1.1% | Statistics Canada |
| Real GDP growth (quarter on quarter, not annualized) | 0.80% | Q2 2026 | +1.00 pp | Statistics Canada |
| Unemployment rate | 6.50% | September 2026 | -0.60 pp | Statistics Canada |
Questions
What is the policy rate in Canada?
Bank of Canada policy rate (target for the overnight rate) was 2.25% in September 2026, according to Bank of Canada.
What is the inflation rate in Canada?
Consumer prices were 3.09% higher in September 2026 than a year earlier, according to Statistics Canada.
What is the unemployment rate?
6.50% in September 2026. Unemployment rate, Canada, 15 years and over, both genders, seasonally adjusted (Labour Force Survey).
Which indicator moved most in the latest data?
Real GDP growth (quarter on quarter, not annualized), up 0.70 pp to 0.80% in Q2 2026, the largest move against its own five-year range.
How often is this page updated?
Each Canada series here is reloaded from Bank of Canada and Statistics Canada when the publisher releases new data: 9 monthly series after each monthly release and 4 quarterly series after each quarterly release. The newest reading here is for September 2026.