February 28, 2024 BY Simon Mugo
Royal Bank of Canada Beats Analysts’ Estimates on Interest Income
The financial strain on Canadian families has intensified with rising interest rates and living costs following the Bank of Canada's inflation-targeting rate hikes. This situation has raised concerns about significant credit losses and stunted loan expansion, prompting banks to allocate C$3.54 billion in reserves last year. Nonetheless, these higher interest rates have also increased banks'…
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