Canadian banks raise prime rate to 6.95% after Bank of Canada hike

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Canadian banks raise prime rate to 6.95% after Bank of Canada hike
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The BoC surprised markets and observers when it raised its benchmark policy rate by a quarter percentage point to 4.75% on Wednesday

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Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting -- The Bank of Canada’s decision to resume raising interest rates shook global bond markets and underscored the difficult task faced by central banks as they try to slow economic activity and tamp down inflation.

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Canadian banks raise prime lending rate to 6.95% after Bank of Canada hikeCanadian banks raise prime lending rate to 6.95% after Bank of Canada hikeCommercial banks are raising their prime rate to 6.95 per cent after the Bank of Canada hiked its interest rate on June 7. Read more
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