Wall Street Journal Prime Rate
The Wall Street Journal Prime Rate (WSJ Prime Rate) is the interest rate that banks charge other banks for any loans that are taken out. The other banks are considered to be their prime business customers, which is where the name of the rate comes from. The rate is often used as a base rate by American banks for their loan products, allowing them to offer financial products that are profitable and competitive. Sometimes the banks will offer credit cards and loans with an interest rate below the Prime Rate to attract new business from good customers.
The Prime Rate Forecast is just a guess at the new rate based on Historical Prime Rate data. Find out just how popular this metric is by taking the prime rate online poll!