What is the interest rate the Bank of Canada charges on loans it makes to banks?

Question

Quizplus · Accepted Answer

The Bank of Canada sets the bank rate, which is the interest rate it charges on loans it makes to banks. The prime rate is set by individual commercial banks and is based on the bank rate. The federal funds rate is the interest rate at which banks lend reserves to each other overnight in the United States. The operating band is the range within which the Bank of Canada aims to keep the overnight interest rate, which is currently between 0.25% and 0.75%.

What Is the Interest Rate the Bank of Canada Charges