BANKING & FINANCE - Nov. 3, 1992
- Share via
From Times Staff and Wire Reports
Canadian Banks Ease Rates: Canadian banks cut prime lending rates for the second time in two weeks, and economists expect further rate reductions this year as the government attempts to revive the ailing economy. The Bank of Montreal led the way, easing its best lending rate by 1/4 percentage point to 7.5% from 7.75%. The Toronto-Dominion and other Canadian banks followed. “As long as the (Canadian) dollar remains stable, rates will go down further,” said Michael Manford, chief economist at Scotia McLeod Inc. Primes were last cut last Tuesday.
Sign up for Essential California
The most important California stories and recommendations in your inbox every morning.
You may occasionally receive promotional content from the Los Angeles Times.
