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Banks refuse rate match to keep market afloat

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Real Estate Professional | 02 Feb 2015, 09:44 AM Agree 0
One big bank has offered an explanation for why its prime rate doesn’t match the Bank of Canada’s overnight rate, but some industry players aren’t exactly sold.
  • | 02 Feb 2015, 01:44 PM Agree 0
    This is proof that all these so called experts, including the ones working for the banks, know NOTHING! Banks got caught sitting on their hands. Now they are stunned and confused. They don't know what to do or think. So, for now the banks will keep gouging their clients and padding their pockets. But sooner of later, they will have to follow what Box does. After all, they need to maintain their pretentious image of caring.
  • Old Timer | 03 Feb 2015, 01:41 PM Agree 0
    What 'image of caring'? The public knows the banks and oil companies could care less about helping people financially. All they care about is themselves - the profit line. The only way to control these two 'out-of-control' monsters is to legislate to prevent gouging. Both industries should be classed as a 'necessity' and as such, they serve a 'captive' clientele. As long as there is an unconscionable relationship between banks, oil companies and politicians, there will be no 'checks and balances' put into place through legislation.
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