The Bank of Canada has announced that its target for the overnight rate will remain at 0.25 per cent

 

The Bank of Canada has announced that its target for the overnight rate will remain at 0.25 per cent and

 has further reiterated its commitment to hold the overnight rate at this level until the end of the second quarter of 2010.

The overnight rate is the rate at which major participants in the money market borrow and lend funds to each other for one day.

Other benchmark rates like the prime rate are generally expected to follow the Bank’s decisions to raise or lower the overnight rate target.

 
Asif Shahzad

Asif Shahzad

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CENTURY 21 Green Realty Inc., Brokerage*
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