Indeed, several major banks raised their prime lending rates half a point, to 8 3/4 percent.
But only one major bank, Chemical, cut its prime lending rate.
The central bank's overnight lending rate is already at a four-year high of 25.5 percent.
The bank left its main lending rate at 5 percent.
The prime lending rate in Canada is two points lower, at 7.5 percent.
Four big banks cut their prime lending rate by half a point to 9.5%.
The basic overnight lending rate was 6 9/16 percent before and after the Fed's action.
The banks' prime lending rate is currently 7 1/2 percent.
On Friday, many big banks cut their prime lending rates to 6 1/2 percent.
Their rates are usually 1 to 2 points above the prime lending rate.
On 14 July, the bank rate was increased again to seven percent.
The official bank rate could reach 6 to 6.5 percent in the next 12 months, the report said.
The bank rate has dropped from 5% to 2% since October.
How can anyone justify 25% or 30% when the bank rate is under 4%?
If you have collateral, the bank rate is 25 percent a year.
You know about the currency crisis and the high bank rate?
Others argue the need of a bank rate for monetary policy.
As of 1 January 2013, the bank rate was 8.25%.
"Look for the decline in bank rates to extend into 1991."
These change cash at official bank rates, and generally don't charge any commission.
