Canadian banks match central bank cut

Canada's biggest banks have lowered lending rates by 25 basis points in spite of speculation before Tuesday's rate cut that they would fail to follow a central bank move.

The Globe and Mail, a Canadian newspaper, reported last week that unnamed commercial bank executives had said that the surge in borrowing costs resulting from the global credit crunch meant it could be difficult for them to match a central bank cut.

However, the Royal Bank of Canada, the country's biggest bank, along with

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact [email protected] to find out more.

To continue reading...

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: