What is the Overnight Rate?
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What is the Overnight Rate?
The Bank of Canada sets an overnight rate that the banks use as the base line for their prime rates. But what's the difference? I sought out the answers for myself, because even though I work at a credit union, I had no idea. And now I'm sharing them with you! What video do you want to see next? Comment below!
1.6K viewsMay 6, 2020
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Federal funds rate explained! It's the rate banks charge each other for overnight lending, not what you pay. #FederalReserve #EconomicsExplained #MoneyTips #Finance101
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