Fact-check · Sep 4, 2026 · Donald Trump
“Each point in interest in this country that we pay cost us $650,000,000,000”
FALSE
What the record shows
One percentage point increase in interest rates costs Canada approximately $9.3 billion in additional annual federal debt service costs (Fraser Institute, 2022). Total federal debt interest charges are $58.7 billion annually (PBO, 2026).
Sources
- Canada Interest Rate Forecast (2026–2030) | Ratehub.ca
- Bank of Canada cuts key interest rate to 4.75% | CBC News
- Bank of Canada reduces policy rate by 25 basis points to 3%, announces end of quantitative tightening - Bank of Canada
- Bank of Canada keeps key interest rate at 2.25% as trade war risks slowing economic growth - The Globe and Mail
- Bank of Canada lowers policy rate to 2½% - Bank of Canada
- Canada Interest Rate Forecast 2026–2027: What Banks Predict Next
From: President Trump Signs Executive Orders, Sep. 4, 2026
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