As per the Interest and Administrative Charges Regulations, the rate is based on the average Bank of Canada discount rate from the previous month plus 3%.

The size of the forward discount often relates to the difference in interest rates between two countries. For example, if U.S. interest rates are 4% and European rates are 3%, this 1% difference ...

Hammack didn’t disappoint. The former Goldman Sachs treasurer opposed the Fed’s decision to lower interest rates at its most recent meeting—and just her third at the central bank.