Chart 2: Growth of money market funds broadly correlates with interest rate levels https://www.bankofcanada.ca/?p=248533 Total assets of money market mutual funds (left scale) Bank of Canada target policy rate (right scale) 43.054.75 42.085.25 39.555.75 40.635.75 44.515.50 47.545.00 50.704.50 56.442.25 53.182.00 59.952.00 62.332.50 61.022.75 58.622.75 55.533.00 54.353.25 53.072.75 52.882.50 53.022.25 52.442.00 51.152.50 51.172.50 48.972.50 48.492.50 47.973.25 44.583.50 44.043.75 45.954.25 48.494.25 47.714.25 51.194.25 50.354.25 58.014.25 69.934.00 75.443.50 76.783.00 78.211.50 84.551.00 78.570.50 68.430.25 61.430.25 53.900.25 49.480.25 46.830.50 42.151.00 39.461.00 39.761.00 41.171.00 39.641.00 36.691.00 36.111.00 34.531.00 33.341.00 31.661.00 31.501.00 30.981.00 30.541.00 30.361.00 29.471.00 29.431.00 28.111.00 27.570.75 28.930.75 30.110.75 32.370.50 32.140.50 30.890.50 31.380.50 33.570.50 32.840.50 32.570.50 30.320.50 30.411.00 31.631.25 33.841.25 30.541.25 36.011.75 36.411.75 37.581.75 39.141.75 42.811.75 48.451.75 49.310.25 48.790.25 47.450.25 41.760.25 39.030.25 39.360.25 38.830.25 39.170.25 42.460.50 47.081.50 55.524.25 63.794.50 69.314.50 77.174.75 80.965.00 81.235.00 85.995.00 85.274.50 90.203.77 101.123.00