Big banks raise prime rate to 6.45% following Bank of Canada hike

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Big banks raise prime rate to 6.45% following Bank of Canada hike
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Royal Bank of Canada raised its prime rate by 50 basis points Wednesday following the Bank of Canada rate hike earlier in the day. Read on

Royal Bank of Canada, TD Canada Trust, Scotiabank, CIBC, Bank of Montreal, Equitable Bank and Laurentian Bank of Canada all raised their prime rate by 50 basis points from 5.95 per cent to 6.45 per cent starting Thursday, Dec. 8.Start your day with a roundup of B.C.-focused news and opinion delivered straight to your inbox at 7 a.m., Monday to Friday.

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