Thursday, May 3, 2007

Stability in the money market

Here is some historical data on Canadian Prime Rate I thought you'd find interesting.

If the Prime Rate remains the same for the next two weeks, it will have been 6.00% for a full year. The last change was May 17th, 2006.

The Prime Rate has not been that stable (over a 12 month period) for 34 years, not since April 1973.

Other periods of note where the Prime Rate has been stable for periods of up to 11 months.
1983 - 1984 Rate - 11.0%
1989 - 1990 Rate - 13.5%
1996 - 1997 Rate - 4.75%
2004 - 2005 Rate - 4.25%

The record, which is in very little threat of ever being broken, is 4.50% from November 1944 to March 1956. That's 11 year and 5 months following the war.

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