Banking in Canada can be a murky subject – one that we hope to shed some light on with a series of highly informational articles.
Latest News
Cardi B. and Elon Musk Think We’re Headed for a Recession Jun 9th
Tesla CEO Elon Musk and rapper Cardi B. are sounding the alarm on the economy.
Last week, in an email to Tesla executives titled “pause all hiring worldwide,” Musk said he had a “super bad feeling” about the economy and told executives to cut 10 per cent of jobs at the company. (Sin.... More »
Making sense of the markets this week: March 20 Mar 19th
Each week, Cut the Crap Investing founder Dale Roberts shares financial headlines and offers context for Canadian investors.
The Fed moves, just a scooch
On Wednesday of this week, Federal Reserve chairman Jerome Power made the move on rates. The Federal Open Market Committee raise.... More »
The best high-interest savings accounts in Canada for 2025 Feb 18th
Savings comparison tool
Find the best and most up-to-date savings rates in Canada using the comparison tool below. Plus, use the filters to assess your estimated return based on the size of your balance.
Why trust us
MoneySense is an award-winning magazine, helping Canadians navigate mo.... More »
How to buy Stellar / XLM in Canada Nov 18th
Since the cryptocurrency market crash in May, smaller altcoins have been steadily stealing the march on leading digital coins. Altcoins’ relatively faster rise in value, compared to crypto heavyweights like bitcoin and ether, has sparked dramatic investor interest in some lesser-known tokens over .... More »
Best online banks and credit unions in Canada for 2024 Mar 20th
Where can you get the best digital banking experience in Canada? We set out to find out in this inaugural review of the best online banks and credit unions in Canada. To come up with the ranking, MoneySense partnered with Surviscor, a leading Canadian research and consulting firm specializing in fin.... More »
Recovering from GIC sticker shock
– moneysense.ca
If you’re a retiree or near-retiree relying on GICs for your fixed-income investments, no doubt you’re facing GIC sticker shock as previously invested GICs are reaching maturity. If before you were getting 2% to 3% on 2-, 3-, 4- or 5-year GICs, you may be shocked to discover you’ll be lucky to get 1%—and only then if, instead of taking the GIC your brokerage suggests, you fight for a better offer. Committing to a 5-year term may gain you only 0.5% or so, depending on the provider.
Nor will matters improve any time soon. The Federal Reserve, Bank of Canada and other central banks have suggested interest rates will stay “lower for longer.” The Fed, in particular, has indicated rates are unlikely to rise for at least three years.
This is classic “financial repression” and unfair to seniors who saved all their lives and don’t wish to take on the full risks of stock investments at this time in their lives. Adrian Mastracci, portfolio manager for Vancouver-based Lycos Asset Management Inc…
Nor will matters improve any time soon. The Federal Reserve, Bank of Canada and other central banks have suggested interest rates will stay “lower for longer.” The Fed, in particular, has indicated rates are unlikely to rise for at least three years.
This is classic “financial repression” and unfair to seniors who saved all their lives and don’t wish to take on the full risks of stock investments at this time in their lives. Adrian Mastracci, portfolio manager for Vancouver-based Lycos Asset Management Inc…
