CIBC cuts prime rate to 6 percent
TORONTO (Reuters) - Canadian Imperial Bank of Commerce said on Tuesday it cut its prime lending rate to 6 percent from 6.25 percent, effective Wednesday.
The move comes after the Bank of Canada cut its overnight interest rate by one-quarter point to 4.25 percent.
(Reporting by Scott Anderson; Editing by Ka Yan Ng)
© Thomson Reuters 2017 All rights reserved.