Menu
Share
Share this story
Close X
 
Switch to Desktop Site

News In Brief

Several US banks push prime interest to 12.5%

Several major banks increased their prime lending rate one-half a percentage point Tuesday, to 12.5 percent, pushing the key business-borrowing charge to its highest level in 18 months. It was the third increase in the past two months for the prime rate.

About these ads

The increase was touched off by Chase Manhattan Bank and Manufacturers Hanover Trust.