<P> Since September 2010, the Bank of Canada's key interest rate (overnight rate) was 0.5% . In mid 2017, inflation remained below the Bank's 2% target, mostly because of reductions in the cost of energy and automobiles; as well, the economy was in a continuing growth spurt with a predicted GDP growth of 2.8 percent by year end . On 12 July 2017, the bank increased the key rate to 0.75% . In a statement, it confirmed that the rate would continue to be evaluated on the basis of inflation . "Future adjustments to the target for the overnight rate will be guided by incoming data as they inform the bank's inflation outlook, keeping in mind continued uncertainty and financial system vulnerabilities ." </P> <P> In the eurozone the bank rate managed by the European Central Bank is called Standing Facilities, which are used to manage overnight liquidity...Qualifying counterparties can use the Standing Facilities to increase the amount of cash they have available for overnight settlements using the Marginal Lending Facility . Conversely, excess funds can be deposited within the European Central Bank System (ECBS) and earn interest using the Deposit facility . </P> <P> Bank rate in India is determined by Reserve Bank of India (RBI). It is the rate at which RBI gives loan to commercial banks with collateral (RBI act 1934 sec. 49) The RBI also provides short term loans to its clients (keeping collateral) which is called the repo rate . RBI revises this rate periodically . However, there is no predetermined schedule . The repo rates are changed re-actively depending on the economy . Like other countries, repo rates affect the money flow into the nation's economy and affect the inflation and commercial banks' lending or interest rate The Indian bank rate is 6.25%, which is same as the rate for Marginal Standing Facility (MSF) </P> <P> The governor of the Reserve Bank of New Zealand sets the New Zealand bank rate known as the Official cash rate, which is reviewed by the Reserve Bank board approximately every six weeks . </P>

The rate at which rbi lends money to commercial banks