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M&T Bank Raises Prime Lending Rate to 7.00%
M&T Bank Corporation will raise its prime lending rate from 6.75% to 7.00%, effective Thursday, September 17, 2026. The Buffalo, New York-based financial holding company announced the increase in a statement. M&T's principal banking subsidiary, M&T Bank, serves customers through a branch and ATM network spanning the eastern United States from Maine to Virginia and Washington, D.C., with trust-related services provided in select markets in the U.S. and abroad by its Wilmington Trust-affiliated companies.
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PNC Bank Raises Prime Lending Rate to 7.00%
PNC Bank, N.A. announced an increase in its prime lending rate to 7.00%, effective tomorrow, Sept. 17, 2026. The Pittsburgh-based bank is a member of The PNC Financial Services Group, Inc., which trades on the New York Stock Exchange under the ticker PNC. PNC is one of the largest diversified financial services institutions in the United States, offering retail and business banking, corporate banking, real estate finance, asset-based lending, wealth management and asset management. The rate change was announced on Sept. 16, 2026.
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Regions Bank Raises Prime Lending Rate to 7.00%
Regions Bank announced it is increasing its prime lending rate to 7.00% from 6.75%, effective Thursday, Sept. 17, 2026. The Birmingham, Alabama-based bank is a subsidiary of Regions Financial Corporation, which holds $161 billion in assets and is a member of the S&P 500 Index. Regions Financial operates more than 1,200 banking offices and more than 1,750 ATMs across the South, Midwest and Texas. The rate change was announced on September 16, 2026.
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Deutsche Bank Raises Prime Lending Rate to 7.00%
Deutsche Bank announced that its New York Branch, Deutsche Bank New York, and its affiliate Deutsche Bank Trust Company Americas have increased their prime lending rate from 6.75% to 7.00%, effective tomorrow, September 17, 2026. The change was announced by the German lender, which describes itself as Germany's leading bank with a strong position in Europe and a significant presence in the Americas and Asia Pacific. Deutsche Bank provides commercial and investment banking, retail banking, transaction banking and asset and wealth management products and services to corporations, governments, institutional investors, small and medium-sized businesses, and private individuals.
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Fifth Third Bank Raises Prime Lending Rate to 7.00%
Fifth Third Bank, National Association announced it will increase its prime lending rate to 7.00%, effective immediately. The rate was last changed on December 10, 2025, when Fifth Third decreased its prime lending rate from 7.00% to 6.75%. Fifth Third Bancorp is the indirect parent company of Fifth Third Bank, and its common stock trades on the New York Stock Exchange under the symbol FITB.
Bank of Canada Holds Rate at 2.25%, Tariffs Raise Inflation Concerns
The Bank of Canada held its key overnight rate at 2.25% on Tuesday, as expected, marking the seventh consecutive meeting without a change. In its statement, the central bank noted that new U.S. tariffs and Canada's retaliatory measures could push up business costs and gradually feed into consumer prices. While upside risks to inflation have increased, the bank expressed concern that tariffs add uncertainty to the economic growth outlook. With ongoing tensions in the Middle East, it reiterated its readiness to adjust monetary policy as needed.
Bank of Canada Governor Says Upside Risks to Inflation Are Rising
Bank of Canada Governor Tiff Macklem said that upside risks to inflation are increasing. He noted the possibility of stronger price pressures and said monetary policy needs to be managed carefully. The remarks have strengthened expectations among market participants of further interest rate hikes.
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US Jobs Improvement Would Keep Dollar Buying Alive, September Rate Hike Expectations
Among the major economic indicators scheduled for release from August 31 to September 4, the focus is on the US August employment report. If it shows an improvement in the labor market, dollar buying is expected to continue in light of tightening monetary policy. The US employment report is due out at 9:30 p.m. on the 4th, with nonfarm payrolls expected to rise by 55,000 month-over-month, the unemployment rate at 4.1%, and average hourly earnings up 0.3% month-over-month. Also, the Bank of Canada is set to announce its policy rate on the 2nd, expected to hold at 2.25%. The US ISM non-manufacturing index is due on the 3rd, expected at 54.3. Canada's employment report is also due on the 4th, with payrolls expected to rise by 17,500 and the unemployment rate at 6.4%.
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Canada adds 75,100 jobs in July, far exceeding forecasts, unemployment rate improves to 6.4%
Statistics Canada reported that employment rose by 75,100 in July, far surpassing market expectations of a 16,500 increase. The unemployment rate improved to 6.4%, marking the third consecutive month of improvement and the lowest level in two years since July 2024. Average hourly wages for permanent employees rose 3.0% year-on-year, slowing from a 3.7% gain the previous month and posting the smallest increase since February 2022. The Bank of Canada held its policy rate at 2.25%, and financial markets expect no rate hikes this year.
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