BNY Decreases Prime Lending Rate to 8.0%
BNY has announced a decrease in its Prime Lending Rate by 0.50 percentage points, from 8.50% to 8.00%. This change will take effect on Thursday, September 19, 2024. The Prime Lending Rate is a key benchmark used by banks to set interest rates for various types of loans, including credit cards, mortgages, and business loans.
This reduction in the Prime Lending Rate could potentially impact borrowing costs for consumers and businesses, making loans more affordable. It may also affect interest rates on savings accounts and certificates of deposit. The decision to lower the rate may be influenced by broader economic factors and monetary policy decisions.
BNY ha annunciato una riduzione del suo Tasso di Interesse Prime di 0,50 punti percentuali, passando dall'8,50% all'8,00%. Questa modifica entrerà in vigore il giovedì 19 settembre 2024. Il Tasso di Interesse Prime è un indicatore chiave utilizzato dalle banche per stabilire i tassi d'interesse per vari tipi di prestiti, tra cui carte di credito, mutui e prestiti aziendali.
Questa riduzione del Tasso di Interesse Prime potrebbe potenzialmente influenzare i costi di indebitamento per consumatori e aziende, rendendo i prestiti più accessibili. Potrebbe anche avere un impatto sui tassi d'interesse dei conti di risparmio e dei certificati di deposito. La decisione di abbassare il tasso potrebbe essere influenzata da fattori economici più ampi e dalle decisioni di politica monetaria.
BNY ha anunciado una disminución de su Tasa de Interés Prime de 0,50 puntos porcentuales, pasando del 8,50% al 8,00%. Este cambio entrará en vigor el jueves 19 de septiembre de 2024. La Tasa de Interés Prime es un indicador clave que utilizan los bancos para establecer las tasas de interés de varios tipos de préstamos, incluidos tarjetas de crédito, hipotecas y préstamos comerciales.
Esta reducción en la Tasa de Interés Prime podría afectar potencialmente los costos de endeudamiento para consumidores y empresas, haciendo que los préstamos sean más asequibles. También podría influir en las tasas de interés de las cuentas de ahorro y de los certificados de depósito. La decisión de reducir la tasa puede estar influenciada por factores económicos más amplios y decisiones de política monetaria.
BNY는 프라임 대출 금리를 0.50%포인트 인하하여 8.50%에서 8.00%로 조정한다고 발표했습니다. 이 변화는 2024년 9월 19일 목요일부터 시행될 예정입니다. 프라임 대출 금리는 은행들이 신용 카드, 주택 담보 대출 및 사업 대출을 포함한 다양한 유형의 대출 금리를 설정하는 데 사용하는 주요 기준입니다.
프라임 대출 금리의 하락은 소비자와 기업의 차입 비용에 잠재적으로 영향을 미칠 수 있으며, 대출을 더욱 저렴하게 만들 수 있습니다. 또한 예금 계좌와 예치 증서의 이자율에도 영향을 줄 수 있습니다. 금리를 낮추기로 한 결정은 더 넓은 경제적 요인과 통화 정책 결정에 의해 영향을 받을 수 있습니다.
BNY a annoncé une baisse de son Taux d'Intérêt Prime de 0,50 points de pourcentage, passant de 8,50 % à 8,00 %. Ce changement prendra effet le jeudi 19 septembre 2024. Le Taux d'Intérêt Prime est un indice clé utilisé par les banques pour fixer les taux d'intérêt de divers types de prêts, y compris les cartes de crédit, les hypothèques et les prêts commerciaux.
Cette réduction du Taux d'Intérêt Prime pourrait potentiellement impacter les coûts d'emprunt pour les consommateurs et les entreprises, rendant les prêts plus abordables. Elle pourrait également affecter les taux d'intérêt des comptes d'épargne et des certificats de dépôt. La décision de réduire le taux pourrait être influencée par des facteurs économiques plus larges et des décisions de politique monétaire.
BNY hat eine Senkung seines Prime Lending Rate um 0,50 Prozentpunkte von 8,50 % auf 8,00 % bekannt gegeben. Diese Änderung tritt am Donnerstag, den 19. September 2024 in Kraft. Der Prime Lending Rate ist ein wichtiger Maßstab, den Banken verwenden, um Zinssätze für verschiedene Arten von Krediten, einschließlich Kreditkarten, Hypotheken und Geschäftskredite, festzulegen.
Diese Senkung des Prime Lending Rate könnte potenziell die Kreditkosten für Verbraucher und Unternehmen beeinflussen und Kredite erschwinglicher machen. Sie könnte auch die Zinssätze für Sparkonten und Festgeldanlagen beeinflussen. Die Entscheidung zur Senkung des Zinssatzes könnte von breiteren wirtschaftlichen Faktoren und geldpolitischen Entscheidungen beeinflusst sein.
- Reduction in Prime Lending Rate by 0.50 percentage points, potentially lowering borrowing costs for customers
- Possible decrease in interest income for the bank on variable-rate loans tied to the Prime Lending Rate
Insights
The 50 basis point reduction in BNY's Prime Lending Rate is a significant move that could ripple through the financial markets. This decrease to 8.00% suggests a shift in the broader economic landscape, potentially signaling the Federal Reserve's response to cooling inflation or slowing economic growth. For borrowers, this translates to lower borrowing costs on various products tied to the Prime Rate, including credit cards, home equity lines of credit and some business loans.
However, for savers and investors, this cut might mean reduced yields on savings accounts and certificates of deposit. Banks' net interest margins could face pressure, potentially impacting their profitability. This move by BNY, likely following a Fed rate cut, could indicate the beginning of a broader easing cycle, which investors should monitor closely for its implications on asset valuations and investment strategies.
BNY's Prime Rate reduction is a bellwether for economic sentiment. This
- Consumer spending: Lower rates may boost discretionary purchases and housing market activity.
- Corporate borrowing: Easier access to capital could fuel business expansion and M&A activity.
- Bond markets: Yields may face downward pressure, affecting fixed-income strategies.
This rate cut might also indicate concerns about economic headwinds, warranting a closer look at defensive sectors. Keep an eye on how other major banks respond, as this could set the tone for broader market expectations and monetary policy forecasts.
About BNY
BNY is a global financial services company that helps make money work for the world – managing it, moving it and keeping it safe. For 240 years BNY has partnered alongside clients, putting its expertise and platforms to work to help them achieve their ambitions. Today BNY helps over
BNY is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). Headquartered in
Contacts:
Media
Garrett Marquis
+1 949 683 1503
garrett.marquis@bny.com
Analysts
Marius Merz
+1 212 298 1480
marius.merz@bny.com
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SOURCE BNY
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