The decline of interest rates helped offset the rise in risk premium https://www.banqueducanada.ca/?p=216288 Change in discount rate Risk-premium effect Interest rate effect 0.000.000.00 0.010.09-0.08 0.020.19-0.17 0.010.12-0.12 -0.020.10-0.12 0.000.07-0.07 -0.020.07-0.09 -0.040.08-0.11 -0.090.00-0.09 -0.100.02-0.12 -0.100.07-0.17 -0.120.03-0.15 -0.15-0.01-0.14 -0.17-0.03-0.13 -0.130.06-0.19 -0.120.13-0.25 -0.100.19-0.29 -0.080.27-0.34 -0.010.39-0.40 0.000.33-0.33 0.000.39-0.39 0.030.40-0.37 0.090.52-0.43 0.050.50-0.45 0.030.40-0.37 -0.030.28-0.31 -0.050.28-0.33 -0.020.36-0.38 0.020.42-0.39 -0.030.31-0.35 -0.070.24-0.31 -0.070.23-0.31 -0.070.26-0.34 -0.140.23-0.37 -0.170.18-0.34 -0.280.11-0.39 -0.200.22-0.42 -0.120.39-0.50 0.040.53-0.49 0.130.61-0.48 0.230.78-0.54 0.410.98-0.57 0.310.91-0.60 0.401.14-0.74 0.280.97-0.69 0.421.28-0.86 0.581.55-0.98 1.512.67-1.17 1.352.39-1.04 1.842.88-1.05 2.984.08-1.10 2.343.19-0.85 3.194.12-0.93 3.294.03-0.74 4.365.01-0.65 3.794.50-0.70 3.904.74-0.83 4.705.61-0.91 3.614.44-0.83 2.483.28-0.80 2.263.12-0.86 2.653.61-0.96 2.453.39-0.94 2.093.10-1.01 2.423.50-1.09 2.173.22-1.05 2.363.35-0.99 1.892.82-0.94 1.672.54-0.88 1.332.22-0.89 1.122.06-0.94 1.172.12-0.95 1.082.03-0.95 1.222.28-1.06 1.252.34-1.09 1.002.06-1.06 0.881.95-1.07 1.162.28-1.12 1.042.13-1.09 0.992.09-1.10 0.922.04-1.12 0.701.77-1.08 0.561.68-1.13 0.311.44-1.14 0.471.62-1.16 0.611.79-1.18 0.671.81-1.13 0.661.79-1.13 0.661.75-1.09 0.611.76-1.15 0.521.64-1.12 0.521.63-1.11 0.661.81-1.16 0.912.06-1.15 0.832.00-1.18 0.761.92-1.16 0.551.66-1.11 0.451.59-1.14 0.481.63-1.15 0.511.71-1.20 0.471.69-1.21 0.331.48-1.15 0.261.41-1.15 0.271.41-1.14 0.321.48-1.17 0.261.42-1.17 0.181.34-1.16 0.051.13-1.08 0.021.04-1.02 -0.140.83-0.97 -0.270.75-1.03 -0.190.88-1.07 -0.091.04-1.13 0.261.44-1.18 0.121.29-1.17 0.021.21-1.18 -0.051.10-1.15 0.001.17-1.17 0.041.22-1.18 0.031.20-1.17 0.001.16-1.16 -0.031.12-1.16 0.101.26-1.16 0.091.26-1.17 0.211.41-1.19 0.151.34-1.19 0.061.24-1.17 0.001.14-1.14 0.031.17-1.14 -0.011.15-1.15 0.121.31-1.19 0.111.24-1.13 0.181.35-1.17 0.091.24-1.15 0.101.27-1.16 0.051.22-1.17 -0.111.06-1.17 -0.061.13-1.20 -0.091.08-1.18 -0.081.11-1.19 -0.091.10-1.19 -0.091.10-1.19 -0.081.11-1.20 -0.051.15-1.20 -0.101.08-1.18 -0.141.09-1.23 -0.171.05-1.22 -0.141.12-1.25 -0.111.13-1.24 -0.131.14-1.27 -0.191.01-1.20 -0.191.05-1.24 -0.171.06-1.22 -0.181.03-1.21 -0.160.97-1.13 -0.190.91-1.09 -0.190.88-1.06 -0.150.94-1.09 -0.190.93-1.12 -0.170.97-1.14 -0.160.96-1.12 -0.160.98-1.14 -0.101.06-1.16 -0.170.98-1.14 -0.130.98-1.11 -0.150.94-1.09 -0.150.89-1.04 -0.160.91-1.07 -0.071.01-1.08 -0.091.03-1.13 -0.131.02-1.15 -0.061.11-1.17 0.001.10-1.11 0.071.20-1.14 0.001.11-1.11 0.071.20-1.14