This hike impacts clients across the bank's diverse portfolio, which spans personal, commercial, and investment banking sectors. As the eighth-largest bank in North America, BMO holds approximately $1.5 trillion in assets. The change follows a period of recalibration for the institution, which continues to integrate digital and human-led strategies to manage its global market operations across Canada and the United States.
BMO Lifts US Dollar Prime Rate to 7.00 Percent
Borrowers tied to BMO Financial Group’s US dollar prime rate will see their costs rise tomorrow as the bank shifts its benchmark from 6.75 percent to 7.00 percent. The adjustment, effective September 17, 2026, reflects the bank's latest move in response to the current North American interest rate environment.
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