Money lent by a bank or other institution that is repayable on demand.
- Though nominal interest rates had fallen, the trend seems to have reversed as measured by call money and Treasury bill rates.
- The central bank decided to cut the target rate for unsecured overnight call money by 0.10 percent to around 0.15 percent and to cut the official discount rate by 0.10 percent to a record low of 0.25 percent.
- Under the policy adopted February 12 last year, the bank has been steering the target rate for unsecured overnight call money as low as possible to prop up economic activity.
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