There may be a published overnight rate that represents an average of the rates at which banks lend to each other; certain types of overnight operations may be limited to qualified banks. The precise name of the overnight rate will vary from country to country.
Banks will also choose to borrow or lend for longer periods of time, depending on their projected needs and opportunities to use money elsewhere.
The overnight rates are fixed every month and at different point of time each month by different countries.
BANK OF CANADA INCREASES OVERNIGHT RATE TARGET TO 1/ 2 PER CENT AND RE-ESTABLISHES NORMAL FUNCTIONING OF OVERNIGHT MARKET.
Jun 01, 2010; OTTAWA, Canada -- The following information was released by The Bank of Canada: The Bank of Canada today announced that it is...
BANK OF CANADA MAINTAINS OVERNIGHT RATE TARGET AT 1/ 4 PER CENT AND REITERATES CONDITIONAL COMMITMENT TO HOLD CURRENT POLICY RATE UNTIL END OF SECOND QUARTER OF 2010 DEC. 8, 2009.
Dec 08, 2009; OTTAWA, Canada -- The following information was released by The Bank of Canada: The Bank of Canada today announced that it is...