BoC holds interest rate as it points to growth, risks + MORE Apr 12th

The Bank of Canada held its trendsetting interest rate unchanged on Wednesday, despite a recent run of stronger-than-expected data, saying it believes the economy has yet to show it can stick to the higher growth trajectory.
In holding the rate at 0.5 per cent, the central bank said it also considered significant uncertainties still weighing on its outlook, including the potentially adverse impacts of the U.S. economic agenda.
Canadian growth exceeded the bank’s expectations and it now predicts real gross domestic product will expand at an annual rate of 2.6 per cent in 2017 _ up from its January forecast of 2.1 per cent.
The recent improvement, it said, was largely fuelled by unexpectedly robust residential investment as well as temporary factors such as the resumption of expenditures in the energy sector and the consumer-spending lift from bigger child-benefit cheques.
However, the bank noted export growth was uneven and that there were signs of weakness in areas like business investment and within underlying employment indicators such as hours worked and wages…

Q: I am 38 years old with $98,000 in my RRSP and I will have a defined benefit pension when I retire from my current employment. My current annual income is approximately $90,000.
My wife is 33 years old with $20,000 in her RRSP and is self-employed, therefore she has no pension plan other than her own savings. Her current annual income is approximately $35,000.
We are currently both contributing $100 monthly to our respective RRSP but I am thinking to move both contributions to a spousal RRSP in my wife’s name in order to maximize income splitting when we retire.
Does this look like a good strategy and how would this affect required Home Buyer’s Plan repayments? I have a minimum repayment of $686 and my wife’s is $310.
—Simon
A: Retirement planning is an important exercise, whether you’re in your 70s or your 30s. There are different strategies to employ depending on your age and at your age, Simon, the keys are how much to save and where to save it. Setting targets early can help you determine how much you can spend on other things like a home, travel and double-doubles…

OTTAWA —The Bank of Canada held its trendsetting interest rate unchanged on Wednesday, despite a recent run of stronger-than-expected data, saying it believes the economy has yet
to show it can stick to the higher growth trajectory.
In holding the rate at 0.5 per cent, the central bank said it also considered significant uncertainties still weighing on its outlook, including the potentially adverse impacts of the U.S. economic agenda.
Canadian growth exceeded the bank’s expectations and it now predicts real gross domestic product will expand at an annual rate of 2.6 per cent in 2017 —up from its January forecast of 2.1 per cent.
The recent improvement, it said, was largely fuelled by unexpectedly robust residential investment as well as temporary factors such as the resumption of expenditures in the energy sector and the consumer-spending lift from bigger child-benefit cheques.

Where to Buy Canadian Real Estate 2017

However, the bank noted export growth was uneven and that there were signs of weakness in areas like business investment and within underlying employment indicators such as hours worked and wages…

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The Bank of Canada marker is pictured in Ottawa on September 6, 2011. (THE CANADIAN PRESS/Sean Kilpatrick)
OTTAWA – The Bank of Canada is leaving its trend-setting interest rate unchanged because, despite a recent run of stronger-than-expected data, it believes the economy has yet to show it can stick to the higher growth trajectory.
In holding the rate Wednesday at 0.5 per cent, the central bank said it also considered significant uncertainties still weighing on its outlook, including the unknown yet potentially adverse impacts of the U.S. economic agenda.
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Canadian growth exceeded the bank’s expectations and it now predicts real gross domestic product will expand at an annual rate of 2.6 per cent in 2017 – up from its January forecast of 2.1 per cent.
The recent improvement, it said, was largely fuelled by unexpectedly robust residential investment as well as temporary factors such as the resumption of expenditures in the energy sector and the consumer-spending lift from bigger child-benefit cheques…