Going from lowest to highest, the key rates in Canada are... a. Target overnight, deposit, bank, prime. b. Prime, bank, deposit, target overnight. c. Bank, prime, target overnight, deposit. d. Deposit, target overnight, bank, prime.

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Going from lowest to highest, the key rates in Canada are

Economics Nov 25, 2020

Going from lowest to highest, the key rates in Canada are...

Target overnight, deposit, bank, prime.

Prime, bank, deposit, target overnight.

Bank, prime, target overnight, deposit.

Deposit, target overnight, bank, prime.

Expert Solution

Option D

The Bank carries out monetary policy by influencing short-term interest rates. It does this by raising and lowering the target for the overnight rate.

The overnight rate is the interest rate at which major financial institutions borrow and lend one-day (or "overnight") funds among themselves; the Bank sets a target level for that rate. This target for the overnight rate is often referred to as the Bank's policy interest rate.

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