If a bank borrows from the Bank of Canada,the interest rate is called

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The interest rate that a bank borrows from the Bank of Canada is known as the bank rate. The prime rate is the rate that banks charge their most credit-worthy customers, the overnight rate is the rate at which banks lend to each other on a daily basis, and the reserve availability rate is the rate at which banks can borrow funds to meet their reserve requirements. None of these definitions apply to the interest rate paid by a bank when it borrows from the Bank of Canada.

If a Bank Borrows from the Bank of Canada,the Interest