Big banks join shift to a lower prime rate

By

Several big banks today joined the trend to a 20 percent prime rate, cutting their base rate on business loans by half a percentage point. Banking industry officials and Wall Street analysts had expected the moves in view of declining short-term interest rates in the money markets, an important source of funds for major banks.

Recommended: Could you pass a US citizenship test?

Share this story:

We want to hear, did we miss an angle we should have covered? Should we come back to this topic? Or just give us a rating for this story. We want to hear from you.

Loading...

Loading...

Loading...