Interest rates are decided by the market, not a bank or the banking system! Borrowers decide the rate of interest, in reality; just like buyers decide the price of all goods. Some more on this here: but please stop believing banks decide interest rates.
The bond market is beginning to believe the Fed is serious about two more rate hikes this year
Malaysia News News
The bond market is beginning to believe the Fed is serious about 2 more rate hikes this year.