The bank rate (also called the rediscount rate)is the rate at which chartered banks can borrow from the Bank of Canada.

Name: The bank rate (also called the rediscount rate)is the rate at which chartered banks can borrow from the Bank of Canada.
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This statement is true. The bank rate is the rate at which chartered banks can borrow from the Bank of Canada and is used to influence monetary policy by changing the cost of borrowing for commercial banks.

The Bank Rate (Also Called the Rediscount Rate)is the Rate