Hawaii banks lower prime lending rates after Fed rate cut
Advertiser Staff
The Federal Rerserve's decision to cut its benchmark federal funds rate to 1.5 percent from 2 percent prompted banks in Hawai'i to lower their prime lending rates.
First Hawaiian Bank, Bank of Hawaii, American Savings Bank and Central Pacific Bank all said they will lower their base lending rates to to 4.5 percent from 5 percent. effective tomorrow.
