RBC cut prime rate to 2.85% from 3%
http://www.newswire.ca/en/story/1478189 ... prime-rate
hope others follow, still not full 25bps cut...
hope others follow, still not full 25bps cut...
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BoC prime and Big Five prime should move in tandem and maintain that 2% spread, but there is nothing that legally obligates them to maintain that spread.hello99 wrote: ↑What a scam by the big banks! It should follow the BoC rate, its always been 2% above prime...I understand everyone's right to make a profit like the oil companies typically do but this doesn't feel right. Banks are still making record profits, just feels like a money grab no? As now they are taking 2.1 % above the BoC prime rate.
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