packers213
New member
Im trying to do some research on how all the factors bank of Canada will consider when making decision to make changes to interest rates in Canada.
Im having trouble understanding the difference between Policy rate and Interest rate. I understand that prime rate is which the commercial banks use to provide loans to consumers of the public, and that interest rate is which the banks borrow from the bank of canada at (im assuming); Is policy rate the same as interest rate? or is there a difference?
Im having trouble understanding the difference between Policy rate and Interest rate. I understand that prime rate is which the commercial banks use to provide loans to consumers of the public, and that interest rate is which the banks borrow from the bank of canada at (im assuming); Is policy rate the same as interest rate? or is there a difference?