Operating Band

The Bank of Canada's 50-basis-point range (i.e., ½ of one percentage point) for the overnight rate.

NOTE: The top of the band, the Bank Rate, is the rate charged by the Bank on LVTS advances to financial institutions. The bottom of the band is the rate paid by the Bank on any LVTS balances held overnight by those institutions. The middle of the band is the Bank's target for the overnight rate.