•   
  •   
  •   

Money Banks raise prime rate to 3.7 per cent

23:30  11 july  2018
23:30  11 july  2018 Source:   msn.com

Canadian economy adds 31,800 jobs in June

  Canadian economy adds 31,800 jobs in June Canadian economy adds 31,800 jobs in JuneStatistics Canada's latest labour force survey showed the jobless rate for June increased from 5.8 per cent in May to break the six per cent barrier for the first time since last October, when it was 6.2.

TORONTO - Canadian banks say they will raise their prime lending rate after the Bank of Canada increased its overnight lending rate to financial Royal Bank , TD Canada Trust, BMO, and Scotiabank all say they will increase their prime rate by a quarter of a percentage point to 3 .70 per cent

The Royal Bank has raised its prime lending rate after the Bank of Canada increased its overnight lending rate to financial institutions.

a person walking down a sidewalk in front of a building © Provided by thecanadianpress.com

TORONTO - Canadian banks say they will raise their prime lending rate after the Bank of Canada increased its overnight lending rate to financial institutions.

Royal Bank, TD Canada Trust, BMO, and Scotiabank all say they will increase their prime rate by a quarter of a percentage point to 3.70 per cent, effective Thursday.

The rates had previously been set at 3.45 per cent.

The increase will raise the cost of borrowing for customers with loans linked to the prime rate such as variable rate mortgages and lines of credit.

The Bank of Canada raised its target for the overnight rate a quarter-point to 1.5 per cent Wednesday.

It was the central bank's fourth rate increase in the last 12 months.

Companies in this story: (TSX:RY)(TSX:TD)(TSX:BNS)(TSX:BMO)

PM's nanny gets annual salary, bump in pay .
PM's nanny gets annual salary, bump in payAn order in council issued earlier this week indicates Marian Pueyo's annual pay has been set in a range that starts just below $40,000 and caps off at slightly more than $45,000.

—   Share news in the SOC. Networks

Topical videos:

This is interesting!