Normally the bank rate is below the overnight rate to encourage banks to borrow from the Bank of Canada rather than from other banks.

Name: Normally the bank rate is below the overnight rate to encourage banks to borrow from the Bank of Canada rather than from other banks.
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The bank rate is typically set above the overnight rate to discourage banks from borrowing from the central bank and instead encourage them to borrow from each other.

Normally the Bank Rate Is Below the Overnight Rate to Encourage