RBC, TD Bank, CIBC, Scotiabank, BMO and National Bank raised their prime lending rates by 75 basis points to 5.45%. Find out more
Toronto-Dominion Bank, Royal Bank of Canada, Canadian Imperial Bank of Commerce, Scotiabank, Bank of Montreal and National Bank of Canada all had their prime lending rate at 4.70 per cent prior to the announcement.Sign up to receive the daily top stories from the Financial Post, a division of Postmedia Network Inc.By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc.
You may unsubscribe any time by clicking on the unsubscribe link at the bottom of our emails. Postmedia Network Inc. | 365 Bloor Street East, Toronto, Ontario, M4W 3L4 | 416-383-2300A welcome email is on its way. If you don't see it, please check your junk folder.We encountered an issue signing you up. Please try againThe new prime rates come into effect Thursday. The hike in prime lending rate at Canadian banks indicate a higher starting point for lenders’ loan calculations.
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Canadian banks raise prime rates after Bank of Canada hikeRBC, TD Bank, CIBC, Scotiabank, BMO and National Bank raised their prime lending rates by 75 basis points to 5.45%. Find out more
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