Snapshot for Bank of Canada Overnight Lending Rate (CABROVER)

Rate Profile Information for CABROVER

The Bank of Canada Overnight rate is the average rate that the Bank wants to see in the market for overnight money market financing. When the Bank changes the Overnight Rate Target, this change usually affects other interest rates, including mortgage rates and prime rates charged by commercial banks. This rate is also the most appropriate rate to use when making international comparisons. It corresponds to the U.S. fed funds target, the two-week repo rate at the Bank of England, and the minimum bid rate for refinancing operations (the Repo Rate) at the European Central Bank.