The Bank of Canada plays a great role in chartered banks. One of the tools that the Bank of Canada uses to implement monetary policy that affects banks is its policy interest rate or its target for the overnight rate. The overnight rate is the rate at which chartered banks borrow and lend money overnight amongst themselves- this rate changes daily. The Bank of Canada
The Bank of Canada plays a great role in chartered banks. One of the tools that the Bank of Canada uses to implement monetary policy that affects banks is its policy interest rate or its target for the overnight rate. The overnight rate is the rate at which chartered banks borrow and lend money overnight amongst themselves- this rate changes daily. The Bank of Canada