Big Canadian banks raise prime lending rate

[ahlam1399]

http://img-s-msn-com.akamaized.net/tenant/amp/entityid/AAuPA9K.img?h=100&w=100&m=6&q=60&o=f&l=f&x=250&y=281TORONTO - Canada's biggest banks will hike their prime rate by a quarter of a percentage point on Thursday, putting financial pressure on homeowners with variable rate mortgages. The Royal Bank of Canada (TSX:RY) was first to announce its prime rate will rise to 3.45 per cent, shortly after the Bank of Canada raised its key short-term rate by a quarter-point to 1.25 per cent. RBC was followed by Bank of Montreal (TSX:BMO), CIBC (TSX:CM), Scotiabank ...

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