Prime vs. the Bank of Canada

Here’s a view of how prime rate has moved over the last 10 years, as compared to the Bank of Canada’s overnight target rate.

We’re clearly in uncharted territory, and not far off from the bottom.  Yet, some economists are nonetheless calling for another 1/2% cut to prime. 

Canadian-Overnight-Target-and-Prime-Rate

Click chart to enlarge.

(Date source: Bank of Canada)

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