Long-term corporate borrowing rates reflect rates on investment-grade corporate bonds. Sources: Bloomberg Finance L.P., Lender Spotlight and Bank of Canada Last observation: January 2023  Changes to our policy rate have also affected the exchange rate. But the exchange rate channel has been more muted than usual.
Interest rate channel In order to examine the extent to which financial institutions have passed on their lower short-term refinancing costs in the current situation, the Deutsche Bundesbank has analysed financial institutions’ short-term interest rates for corporate and housing loans.