All the remaining major banks including: Royal Bank, CIBC, Scotiabank and Bank of Montreal announced on Friday a decrease of one quarter of one per cent in its Canadian dollar prime lending rate. The new rate is 4.25 per cent, effective Tuesday, October 14, 2008.
"We are pleased to offer this reduction in interest rates to ourcustomers, which we believe will reinforce confidence in the Canadian economy," said Chris Hodgson, Executive Vice-President and Head of Domestic Personal Banking (Scotiabank). "At a challenging time in world financial markets, this reduction in interest rates reflects actions initiated by the Bank of Canada and the federal government."
No comments:
Post a Comment