Canada's banks not budging yet

Financial Post

The Bank of Canada's bid to stimulate a sluggish economy with a surprise rate cut is getting no help from the nation's big banks.  Toronto-Dominion Bank, Canada's largest lender, says it has no plans to cut its prime rate to match the central bank's move, keeping the rate linked to variable mortgages, car loans and other securities, at 3%.  Other banks, including Royal Bank of Canada, are also holding off.

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