Bank of Canada keeps key rate at 0.5% amid stronger yet uncertain global economy – Toronto Star + MORE Dec 7th

OTTAWA – The Bank of Canada is holding its benchmark interest rate at 0.5 per cent as economic conditions move along largely in line with its expectations.
In making the scheduled announcement Wednesday, the central bank said while the global economy has strengthened, persistent international uncertainty has continued to have a negative effect on business confidence and investment among Canada’s trading partners.
The bank said in a statement that Canada’s growth performance had also been close to its expectations, including a strong rebound in the third quarter. It repeated its prediction that Canada would see “more-moderate growth” over the final three months of 2016.

How to adapt to low interest rates: Poloz »

However, it said Canadian inflation, which the bank carefully analyzes when making rate decisions, was slightly below what it had anticipated, in large part because of lower food prices.
In a closer analysis of economic conditions, the bank also made a point of highlighting recent steps taken by the federal government in an effort to help boost growth…

Q: My husband set up an RRSP account for me, but now my broker wants to roll everything into one account called a spousal RRSP. Does having my RRSP labelled a spousal RRSP give my husband more access to it, now and if I die?
—Billie Collinge, Nanaimo, B.C.
A: Your spousal RRSP is just that: Yours. It is an account that your spouse can contribute to and then claim a tax deduction on his tax return—which helps minimize the tax he pays now. The general idea is to shift assets to the lower-earning spouse, who can withdraw more in retirement at a lower tax bracket. But your spousal RRSP belongs to you. You control what the money is invested in and when you withdraw it. And you pay the tax, provided the money has been in the account for at least three years. Jason Heath is a certified financial planner at Toronto-based Objective Financial Partners and he explains that when you die, “Your RRSP is paid out to the beneficiary that you designate for that account. You can choose anyone, so the fact that it’s a spousal RRSP is irrelevant—your beneficiary designation is key…

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Toronto StarBank of Canada keeps key rate at 0.5% amid stronger yet uncertain global economyToronto StarThe central bank said while the global economy has strengthened, persistent international uncertainty has continued to have a negative effect on business confidence and investment. Last week, Bank of Canada Governor Stephen Poloz said it was too soon …BoC's message: Canadian rates will go their own wayThe Globe and MailPrepare for a gap to open between Canadian and US interest ratesCanadianBusiness.comBank of Canada maintains overnight rate at 0.5% in last rate announcement of 2016 By Emma Crawford HampelBusiness in VancouverBNN -MarketWatch -Reuters Canada -The Sydney Morning Heraldall 58 news articles »

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