Why banks aren’t paying higher interest rates

Why banks aren't paying higher interest ratesSo far in 2010, Canadians have opened 20 per cent more chequing and savings accounts than last year at this time. That amounts to about $100 billion in new deposits and Canada‚Äôs major banks have been fighting for a share of it with incentives, including cash rewards for customers opening new accounts. While consumers can get cash and travel points to open a new account, there is one conspicuous weapon…

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