Royal Bank of Canada raises prime rate to 4.70%
Royal Bank of Canada lifts its prime rate 25 bps, from 4.45% to 4.70%, effective October 29, 2026, according to TradingView citing a PR Newswire release.
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what happened
Royal Bank of Canada is raising its prime rate by 25 basis points, from 4.45% to 4.70%. The change takes effect on October 29, 2026.
According to TradingView, which relies on the bank's press release distributed by PR Newswire, the increase will hit variable-rate loans and lines of credit. Borrowers on those products should expect higher payments once their terms reset.
why it matters
A higher prime rate raises borrowing costs for customers and can widen the bank's net interest margin, the gap between income from loans and the cost of funding. For now this is a single bank's move. A broader signal for the sector would require peers to make similar changes or the bank to comment on its margin and credit quality outlook.
market impact
Канадские кредиты: дороже займы с плавающей ставкой, что может поддержать маржу банков
- RBC shares (RY) pressure up — a higher prime rate may widen the bank's net interest margin
tags
instruments
sources
- Royal Bank of Canada (RY) Lifts Prime Rate 25 bps to 4.70% — TradingView, 28 October 2026 at 18:30 UTC
- National Bank of Canada (NA) Hikes Prime Rate 25 bps to 4.70% — TradingView, 28 October 2026 at 19:22 UTC
prepared by the newsmetry newsroom with ai assistance from the sources listed below. not investment advice.
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