What is the Canadian definition of prime rate?

Answer Canadian prime rate refers to the interest rate the bank is currently charging customers for loans. The prime rate is generally the same for all financial institutes and is applied to variable rate... Read More »

Top Q&A For: What is the Canadian definition of prime rate

What is the Canadian prime lending rate?

According to, the Canadian prime lending rate as of May 2010 was 2.25 percent, compared to the U.S. prime rate of 3.25 percent. The prime lending rate is the short-term rate that ban... Read More »

What is the definition of prime rate?

The prime rate is one of several financial indexes that banks look at to make their interest rates competitive. This rate has a big effect on the overall economy.IdentificationThe prime rate refers... Read More »

The Meaning of Discount Rate and Prime Rate?

Regional Federal Reserve Banks make loans to depository institutions through its lending facility. The lending facility is called the "discount window." The interest rate charged by the Fed to de... Read More »

What is the difference between the prime rate&the target rate?

The prime rate and the target rate are both interest rates that help determine how much it costs to get a loan from the bank. One rate influences the other.The Prime RateThe prime rate is the benc... Read More »