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‘Easy Money’ Is Harder to Come By as Deposit Betas Surge

The Fed’s move today to raise its target interest rate to a range of 2.00% – 2.25% comes at a time when banks are already grappling with rising deposit costs. The higher betas that were reported in Q2 and are expected in Q3 will force commercial and retail bankers to respond with tactical and strategic actions in the coming months. Promotions Drive MMDA Balances To Higher-Rate Offers By Vladana Zlatic | Manager, Toronto | vzlatic@novantas.com ...

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