@article{Determinants:664,
      recid = {664},
      author = {Hendry, Scott},
      title = {Determinants of the Prime Rate: 1975-1989},
      publisher = {Bank of Canada},
      address = {1992},
      pages = {1 online resource (44 pages)},
      abstract = {One of the tools the Bank of Canada has as a means of  conducting monetary policy is its influence on very  short-term interest rates which, in turn, allows it to  indirectly affect market and administered interest rates.  This paper attempts to identify which interest rates –  market rates or the Bank Rate – are the most important to  the chartered banks in the setting of their prime rates.  Results of equations estimated over the 1975- 89 period  indicate that the change in the Bank Rate is the most  important variable in explaining short-run movements in the  prime rate. Other variables influencing the prime rate  include changes in the 90-day commercial paper rate and the  spread between prime and the 90-day paper rate and between  prime and the 30-day bankers’ acceptance rate.},
      url = {http://www.oar-rao.bank-banque-canada.ca/record/664},
      doi = {https://doi.org/10.34989/swp-1992-2},
}