Banks cut prime rate to 5.2%, following Bank of Canada's lead
Royal Bank of Canada, Toronto Dominion Bank, Canadian Imperial Bank of Commerce, Bank of Montreal, National Bank of Canada, Desjardins Group, Equitable Bank and Bank of Nova Scotia announced Wednesday they would cut their prime rate, following the lead of the Bank of Canada.
Interest rates cut by 25 basis points, even as two MPC members argued against decrease
The SA Reserve Bank's monetary policy committee (MPC) cut interest rates by 25 basis points on Thursday. Four members of the MPC voted for a 25 basis point cut, while two did not want to cut rates. Reserve Bank Governor Lesetja Kganyago said all of the members were concerned about the global environment.
Individual banks and financial institutions then use this federal funds rate as a starting point to set their own prime rate, or the interest rate passed onto the most creditworthy consumers.
China’s commercial lenders held benchmark lending rates unchanged for the third consecutive month after Beijing eased ...
The reference interest rate for credit in Mozambique will remain unchanged in February, at 19%, after four consecutive monthly cuts, the Mozambican Banking Association (AMB) announced today. The rate, ...
China left benchmark lending rates unchanged for a third consecutive month, as expected, as a weakening yuan has limited ...
It takes time for the Fed’s decisions to filter through the economy — and then even more time for consumers to see the difference.
The Federal Reserve kept its key interest rate unchanged as officials grappled with uncertainty caused by inflation and ...
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