While Canada’s largest banks are charging more to lend money due to high interest rates, experts say they are failing to increase savings account rates in a similar way. Aimed at taming inflation, the Bank of Canada began implementing a series of interest rate hikes in March 2022. Click Here to Visit Orignal Source of Article https://www.ctvnews.ca/business/why-are-canadian-banks-quick-to-charge-more-for-borrowing-but-slow-to-increase-savings-account-rates-1.6298466
Why are Canadian banks quick to charge more for borrowing, but slow to increase savings account rates?
