#cosocanuks
#cosocanucks
#Financial

Canada’s six biggest banks raised their prime lending rates following an eighth consecutive increase to the Bank of Canada’s benchmark interest rate.

The central bank’s target for the overnight rate now sits at 4.5 per cent following a quarter-point hike on Wednesday.

After Wednesday’s decision, TD Bank, Scotiabank, BMO, RBC, CIBC and National Bank all raised their prime lending rate by 25 basis points to 6.7 per cent.

https://globalnews.ca/news/9438123/mortgage-prime-lending-rate-bank-canada-interest-hike/