BMO Increases U.S. Dollar Prime Lending Rate to 7.00%
Bank of Montreal (BMO) has announced an increase in its U.S. dollar prime lending rate from 6.75% to 7.00%, effective September 17, 2026. This adjustment reflects ongoing changes in the financial landscape and aligns with broader monetary policy trends. As one of North America's largest banks by assets—with total assets reaching $1.5 trillion as of July 31, 2026—BMO serves clients across Canada, the U.S., and international markets through a wide range of banking services. The bank is also focused on innovation in digital and AI technologies to enhance client experiences. The rate increase may impact borrowers with variable-rate loans or credit lines tied to BMO's prime lending rate, potentially affecting consumer spending and business investment decisions.