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Banks buck rate-cut trend by pocketing some profit
TORONTO - Bay Street`s profit margins are starting to come under pressure as official interest rates creep closer to zero, prompting retail banks to change the rules of the game so customers pay more.
While the Bank of Canada on Tuesday cut interest rates to the lowest level since the 1950s, the country`s five big banks indicated they would no longer march in lock step with the central bank.
http://www.canada.com/edmontonjournal/news...a0-d087fff6c1e0
TORONTO - Bay Street`s profit margins are starting to come under pressure as official interest rates creep closer to zero, prompting retail banks to change the rules of the game so customers pay more.
While the Bank of Canada on Tuesday cut interest rates to the lowest level since the 1950s, the country`s five big banks indicated they would no longer march in lock step with the central bank.
http://www.canada.com/edmontonjournal/news...a0-d087fff6c1e0