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Stock impact report

Banks lower prime rates after Bank of Canada cuts interest rates again [Globe and Mail, The (Toronto, Canada)]

Bank Of Montreal (BMO) 
Last bank of montreal earnings: 2/25 06:00 am Check Earnings Report
Log in or create a free account to listen to this article. Canadian financial institutions are lowering their prime lending rates to match the half percentage point decrease announced today by the Bank of Canada All of the Big Six including Royal Bank of Canada RY-T increase , Toronto-Dominion Bank TD-T increase , Bank of Montreal BMO-T decrease , Canadian Imperial Bank of Commerce CM-T increase , Bank of Nova Scotia BNS-T decrease and National Bank of Canada NA-T increase said they are lowering their prime rate to 5.45 per cent, down from 5.95 per cent, effective Thursday. Other lenders including Desjardins Group and Laurentian Bank also announced lower rates. The Bank of Canada's cut to 3.25 per cent marks the fifth consecutive decrease this year after it started lowering its key rate from five per cent in June. Bank prime rates help determine the cost of a range of loans including variable-rate mortgages and lines of credit, while fixed mortgage rates are inf Show less Read more
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