The three-month rate started 2024 at 6.21%, slightly lower than the 6.22% level recorded on December 29, 2023 – the last session of 2023, in line with central bank data.
The index started 2023 at 7.56%, a level recorded on January 3. Throughout 2023, the three-month rate fell slowly, by 17%.
The IRCC, which is used by banks to calculate interest rates for new loans taken out starting with the spring of 2019, stands at 5.97% in the first quarter of 2024.