Written by 3:22 AM Interest Rates • 5 Comments Views: 97

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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Last modified: April 29, 2014

Robert McLister is one of Canada’s best-known mortgage experts. A mortgage columnist for The Globe and Mail, interest rate analyst and editor of MortgageLogic.news, Rob has been covering Canada's mortgage market since 2007.

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