Prime Rate Today 2024 In Canada. The prime rate is the lending rate canada’s banks and financial institutions use to set interest rates for variable loans and lines of credit, including. All of the big six banks including rbc, td, bmo,.

Rbc cad deposit reference rate. The bank of canada today reduced its target for the overnight rate to 4¼%, with the bank rate at 4½% and the deposit rate at 4¼%.