News Releases
BMO Bank of Montreal Reduces CDN$ Prime Lending Rate by 25 Basis Points
TORONTO, October 10, 2008 – In line with current market conditions, the BMO Bank of Montreal Canadian dollar prime rate has been changed from 4.50% to 4.25% effective October 14, 2008.
“The federal government's announcement today is a positive move, and will reduce the cost of funds for all the banks,” said Frank Techar, President and CEO, Personal and Commercial Banking Canada, BMO Financial Group. “We are pleased to pass on these savings to our customers. We believe this will benefit Canadians and their businesses.”
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