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Tags: jpmorgan chase prime lending rate | inflation | federal reserve | debt | credit

JPMorgan Raises Prime Lending Rate to 4.75%

JPMorgan Raises Prime Lending Rate to 4.75%
(Getty Images)

Wednesday, 15 June 2022 02:47 PM EDT

U.S. bank JPMorgan Chase & Co. said on Wednesday it had raised its prime lending rate by 75 basis points to 4.75%, effective Thursday.

The move follows Federal Reserve's decision to raise its target interest rate by three-quarters of a percentage point, biggest by the U.S. central bank since 1994, to tame red-hot inflation.

© 2022 Thomson/Reuters. All rights reserved.


StreetTalk
U.S. bank JPMorgan Chase & Co said on Wednesday it had raised its prime lending rate by 75 basis points to 4.75%, effective Thursday. The move follows Federal Reserve's decision to raise its target interest rate by 75 basis points, the largest rate increase since 1994.
jpmorgan chase prime lending rate, inflation, federal reserve, debt, credit
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2022-47-15
Wednesday, 15 June 2022 02:47 PM
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