Robert McLister·Mortgage Rate Trends·January 21, 2009Prime 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. Click chart to enlarge. (Date source: Bank of Canada) Like news like this?Join our CMT Updates list and get the latest news as it happens. Unsubscribe anytime. SUBSCRIBE! Thank you for subscribing. One more step: Please confirm your subscription via the email sent to you.