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Banks cut prime rate to 16.5 percent amid easing BoC rate
Canadian major chartered banks lowered their prime lending rate to 16.5 percent from 17.25 percent effective next Monday as the Bank of Canada rate fell to 14.66 percent. The move signals potential reductions in consumer loans and mortgage costs with several banks pricing savings at 12.50 to 12.75 percent.
MENTIONED IN THIS ARTICLE
Toronto
Canada
Bank of Canada
Imperial Bank of Commerce
Dominion Bank
Bank of Montreal
Royal Bank of Canada
Bank of Nova Scotia
Mercantile and National Banks
Canadian Imperial Bank of Commerce
Western
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