The funds rate is the interest paid on overnight loans between banks.
That rate is what banks charge one another for overnight loans.
This rate, which financial institutions charge each other for overnight loans, was between 8.20 and 8.30 percent.
The Federal funds rate, the interest on overnight loans between banks, was near 6 5/8 percent all day.
Brazil's central bank also raised interest rates on overnight loans.
The rate is what banks charge each other for overnight loans.
The federal funds rate on overnight loans between banks is now at a 40-year low of 1.75 percent.
That means the federal funds rate on overnight loans between banks will go up to 3.5 percent.
The rate is what banks charge one another on overnight loans.
The federal funds rate, for interest on overnight loans between banks, is now 1.25 percent.