To answer the following see the Bank of Canada website

https://www.bankofcanada.ca/core-functions/monetary-policy/

a)Define: (i) overnight interest rate ('Policy Interest Rate' on the Bank of Canada site);

(ii) Bank rate; and (iii) Operating band.

b)http://www.bankofcanada.ca On the Bank of Canada webpage highlight the 'Statistics' tab and under resulting pulldown menu click 'Indicators' then click on 'Summary of Key Monetary Policy Variables'.At the top of the table you can click "Policy instrument" for more definitions. In the resulting table find the most recent value for the overnight rate target.Report it and the date to which it applies.How close was it to the actual value of the overnight rate on the reported date?Scan further down the table: how much does the target typically differ from the actual value of the overnight rate?Does it appear that the Bank of Canada is able to achieve its announced targets?

c)Now go to https://www.bankofcanada.ca/wp-content/uploads/2010/11/how_monetary_policy_works.pdf. Discuss the transmission of Monetary Policy that the Bank of Canada uses. What is the main objective of Monetary Policy? Be sure to discuss the main transmission channel as well as the three other channels.

d)In the same article click on "target for the overnight rate" tab. Discuss the target for the overnight rate and its influence on market interest rates.