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Canada In I R Hiking Frenzy

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Royal Bank of Canada, CIBC raise prime to 6 pct

Wed May 24, 2006 9:17 AM ET

TORONTO, May 24 (Reuters) - Royal Bank of Canada (RY.TO: Quote, Profile, Research) and Canadian Imperial Bank of Commerce (CM.TO: Quote, Profile, Research) said on Wednesday they would raise their prime lending rate to 6 percent from 5.75 percent, effective Thursday.
The move by the commercial banks follows the Bank of Canada decision to raise its key overnight interest rate by 25 basis points to 4.25 percent.


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Do you work in sales RB? You seem so willing to bend the truth it just has to be your profession.

Oops, sorry, did they lower the rates instead? Nope--just checked, they did go up, thought you might have been right for a moment there. :)

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At least he wont be crying into his pissweak swedish class 2 beer like an inbred scandi schoolgirl when it happens, numbnut. And yes, you know it will happen. Bet you wished you'd fixed those rates now, oh great economic guru!

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