Financial Insights That Matter
Royal Bank of Canada, Toronto-Dominion Bank, Bank of Montreal, Bank of Nova Scotia, Canadian Imperial Bank of Commerce, Laurentian Bank of Canada, Desjardins Group, National Bank of Canada and Equitable Bank announced Wednesday they would cut their prime rate, following the lead of the Bank of Canada.
The banks said they would decrease the prime rate by 25 basis points from 5.20 per cent to 4.95 per cent just hours after Canada’s central bank cut its interest rate by a quarter point to 2.75 per cent.
The lower rate is effective March 13.
-
Bank of Canada cut a ‘Band-Aid’: Economists say rates to fall further
-
Bank of Canada cuts interest rate to 2.75%, citing tariff turmoil
Bookmark our website and support our journalism: Don’t miss the business news you need to know — add financialpost.com to your bookmarks and sign up for our newsletters here.
#1a73e8;">Boost Your Financial Knowledge and Achieve Stability
Discover a growing online community dedicated to delivering financial news, tips, and strategies designed to help you manage money effectively, save smarter, and grow your investments with confidence.
#1a73e8;">Top Financial Tips for Saving and Investing
- Personal Finance Management: Master the art of budgeting, expense tracking, and building a strong financial foundation.
- Investment Opportunities: Stay updated on market trends, learn about stocks, and explore secure ways to grow your wealth.
- Expert Money-Saving Advice: Access proven techniques to reduce expenses and maximize your financial potential.