MONEY GLOBE XCanada vs US economy: inflation, rates and jobs side by side
Inflation is 3.1% in Canada and 4.1% in the United States. Unemployment is 6.7% in Canada and 4.1% in the US. The Bank of Canada's rate is 2.50% against the Fed's 4.00%.
| Indicator | Canada | United States |
|---|---|---|
| Policy rate | 2.50% 2026-11-09 | 4.00% 2026-11-10 |
| Real policy rate (policy minus inflation) | -0.59% 2026-09-01 | -0.08% 2026-10-01 |
| CPI inflation (year over year) | 3.09% 2026-09-01 | 4.08% 2026-10-01 |
| Unemployment rate | 6.7% 2026-10-01 | 4.1% 2026-10-01 |
| Jobs added last month (thousands) | -5k 2026-10-01 | 165k 2026-10-01 |
| Money supply growth (year over year) | 6.30% 2026-08-01 | 5.71% 2026-09-01 |
| 2-year government bond yield | 3.13% 2026-11-09 | 4.51% 2026-11-06 |
| 10-year government bond yield | 3.63% 2026-11-09 | 4.86% 2026-11-06 |
| Mortgage rate (CA 5-year, US 30-year) | 6.19% 2026-11-04 | 7.18% 2026-11-05 |
| Real GDP growth (CA: year over year; US: annualized quarter) | 1.48% 2026-08-01 | 3.40% 2026-07-01 |
USD/CAD: 1.4123 (Bank of Canada, 2026-11-09).
Why compare Canada and the US?
About three-quarters of Canada's exports go to the US, and the gap between the two central banks' rates moves the Canadian dollar. When Canadian rates fall below US rates, the loonie usually weakens, which raises the price of imports.
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Create a free accountUpdated November 10, 2026, 23:05 UTC. Sources: Statistics Canada, Bank of Canada, FRED (BLS, BEA, Federal Reserve, US Treasury, Freddie Mac). Educational information only - not financial advice.