Making sense of the markets this week: June 9, 2024 Jun 7th

All about Canadian investments. Learn the ins and outs and get the latest news.

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GIC comparison tool Find the best and most up-to-date GIC rates in Canada using the comparison tool below. Plus, use the filters to assess your estimated rate of return based on the size of your balance. Why trust us MoneySense is an award-winning magazine, helping Canadians navigat.... More »

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Pierre Poilievre pitches accountability legislation targeting Mark Carney Apr 13th

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Musk's SpaceX prices record $75 billion IPO at $135 a share - Reuters + MORE Jun 11th

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How to withdraw RESP funds Aug 26th

For years, you’ve saved up for your child’s college or university education with a registered education savings plan (RESP). Now, your kid is getting ready to start classes. As the RESP’s subscriber (the person who opened and contributed to the account), you may have questions about h.... More »

Making sense of the markets this week: June 9, 2024

– moneysense.ca

Kyle Prevost, creator of 4 Steps to a Worry-Free Retirement, Canada’s DIY retirement planning course, shares financial headlines and offers context for Canadian investors.

“The Big Cut”

While The Big Short film is a riveting watch, “The Big Cut” may be even more enthralling.

The Bank of Canada (BoC) made the decision to cut its key interest rate to 4.75% on Wednesday. It’s the first rate cut since March 2020. With about $700 million worth of mortgages coming up for renewal in Canada this year, “The Big Cut” is going to affect a lot of Canadians.

“We’ve come a long way in the fight against inflation. And our confidence that inflation will continue to move closer to the 2% target has increased over recent months.”
– BoC Governor Tiff Macklem

Macklem also said: “Total consumer price index inflation has declined consistently over the course of this year, and indicators of underlying inflation increasingly point to a sustained easing…

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