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Wall Street Journal prime rate

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Wall Street Journal prime rate
The Wall Street Journal surveys large banks and publishes the consensus prime rate.
    
The Wall Street Journal (WSJ) is an English-language international daily newspaper published by Dow Jones & Company in New York City with Asian and European editions.
    
Wall Street journal prime rate  can be defined as the base rate on corporate loans posted by at least 75% of the nation's 30 largest banks. It is not the 'best' rate offered by banks. It should not be confused with the federal funds rate set by the Federal Reserve, though these two rates often move in tandem. The current rate is 5.00% (as of 2008-04-30).
    
The print edition of the WSJ is generally the official source of the prime rate. The Wall Street Journal prime rate is considered a trailing economic indicator.

It's the most widely quoted measure of the prime rate, which is a common Benchmark for consumer and business loans set by banks, often at a level 3 percentage points higher than the federal funds rate. The prime rate Will move up or down in lock step with changes by the Federal Reserve Board. The prime rate does not change at regular intervals. It changes only when the nation's "largest banks" decide on the need to raise, or lower, their "base rate." The prime rate may not change for years, but it has also changed several times in a single year.
Posted by  Opal Financial Group
 
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