JPMorgan, Citi lower benchmark interest rates following Fed rate cut

JPMorgan, Citi lower benchmark interest rates following Fed rate cut The banks use different names -Citi calls this its "base rate," and JPMorgan refers to a "prime rate." However, lowering this benchmark rate means lower interest rates on loans that are based off the Fed#39;s main short-term rate. The move could result in lower revenues for the banks in the coming quarters.

from Moneycontrol World News https://ift.tt/2KmGZFo
JPMorgan, Citi lower benchmark interest rates following Fed rate cut JPMorgan, Citi lower benchmark interest rates following Fed rate cut Reviewed by VidhanSabha on August 01, 2019 Rating: 5

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