... the country, and this fixed rate, the maximum allowed under the Usury Laws, prevailed for some years after 1810 the normal market rate was also the maximum rate the rate was generally a fixed 5 ... effect, the Bank hadan interest- rate target at the interest- rate ceiling. That is an interpretation of Officer(2000, p. 200). If correct, then a five-percent rate was effective, and that rate can ... thought of any other rate The Bank rate and the bankers’ rate; we had no other rate we never charged above five per cent. in any singleinstance ” And in response to the question The commercial [bill...