WORLD
Economy
Interest rates around the world
Last Updated: Monday, May 11, 2009 | 4:48 PM ET
CBC News
The Bank of Canada on April 21 reduced the overnight interest rate by one-quarter of a percentage point to 0.25 per cent, essentially the lowest effective rate. The lending rate will remain at that level until the middle of 2010, depending on inflation rates.
Canada's major banks quickly moved to lower their prime rates, the rates at which they charge their top customers, by one-quarter of a percentage point to 2.25 per cent.
So how does that rate compare to the rest of the world? We've compiled examples of rate changes from various countries around the world, in an effort to see where Canada stands.
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