Home > banks, interest rates > Historical Relationship – Bank of Canada Bank Rate vs Prime Rate

Historical Relationship – Bank of Canada Bank Rate vs Prime Rate

Yesterday I posted a 10-year chart showing the difference between the Bank Rate which is set by Bank of Canada and the Prime Rate which is set by the chartered banks and is the rate the banks will lend to their most creditworthy customers.

Today I bring to you the same chart but going back since 1935… that’s right, the relationship between Bank Rate & Prime rate since 1935!

The spread is clearly at historic lows compared to the earlier half of 20th century but relatively high compared to the latter half

Spread_between_prime_rate_&_bank_rate since 1935

Source: Bank of Canada

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