What is the Bank of Canada's prime lending rate?

Answer The Royal Bank of Canada, or RBC, sets the prime lending rate for the nation. The last time the rate changed was in April of 2009. It is currently 2.25%, though the interest rates are subject to ch... Read More »

Top Q&A For: What is the Bank of Canada's prime lending rate

What is prime lending rate?

When a business borrows money from a bank, that business' stability and credit history determines its interest rate. Creditworthy businesses not only borrow money at low interest rates, they play a... Read More »

What is the Canadian prime lending rate?

According to, the Canadian prime lending rate as of May 2010 was 2.25 percent, compared to the U.S. prime rate of 3.25 percent. The prime lending rate is the short-term rate that ban... Read More »

What Is a Benchmark Prime Lending Rate?

The benchmark prime lending rate is one of many base rates on which banks price loans in the credit markets. The prime lending rate usually changes when the Federal Reserve alters the fed funds rat... Read More »

What is today's prime lending rate?

As of May 12, 2010, the prime rate is 3.25 percent. The prime rate is the short-term interest rate that banks charge one another. It is a basis for other consumer loans and an indicator of the stre... Read More »