JPMorgan Raises Prime Rate by 25bps to 7.00%

Published Sep 16, 07:22 PM UTC

JPMorgan Chase (JPM.N) announced it will raise its prime rate by 25 basis points, bringing it to 7.00%. The change will take effect on Thursday, September 17, local time. This move follows the Federal Reserve's expected interest rate decision and is a standard adjustment by major banks in response to central bank monetary policy. The prime rate is a benchmark used by banks to set interest rates on various consumer and business loans, including credit cards and mortgages. The increase will directly affect borrowing costs for JPMorgan Chase customers with variable-rate products tied to the prime rate.

# JPMorgan Chase Announces Prime Rate Increase

**JPMorgan Chase (JPM.N)** will raise its prime rate by **25 basis points** to **7.00%**, effective **Thursday, September 17**, local time.

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