Interest Rate increase

As most of you may already know, Bank of Canada just announced the overnight interest rate increase by 25 basis points to 1.5% today.

 

As a result, RBC will be increasing the Prime rate by 25 basis points as well from 3.45% to 3.7% effective July 12th, 2018.

 

All lending and deposit products that are priced based on the RBC Prime Rate will be automatically adjusted.