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
Raging River searches for relevance in a mean market Mar 6th
Best known for its operations in the Viking light-oil formation in western Saskatchewan and eastern Alberta, the company said it has hired investment banks to help it study a “strategic repositioning”
.... More »
Asian stocks lower amid wait for central bank decisions + MORE Apr 25th
TOKYO – Asian stocks fell across the board Monday ahead of policy decisions by the U.S. Federal Reserve and the Bank of Japan as well as major earnings reports and economic data from Japan and China expected later in the week.
KEEPING SCORE: Japan’s benchmark Nikkei 225 dipped 0.8 per ce.... More »
The best GIC rates in Canada for 2025 + MORE Dec 29th
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 navigate m.... More »
Making sense of the markets this week: July 31 Jul 30th
Kyle Prevost, editor of Million Dollar Journey and founder of the Canadian Financial Summit, shares financial headlines and offers context for Canadian investors.
With earnings season in full swing, there’s a lot to catch up on this week, as we try to make sense of the markets that defy being d.... More »
Engineering a profitable portfolio Apr 19th
Somayaji Ayalasomayajula, 22, Mechanical Engineer, Toronto
I’ve been interested in growing my money since I was 12. At a pretty young age my dad gave me some money and helped me buy a GIC (guaranteed income certificate) with it. I think the aim was to help me see how money grows through interest a.... More »
Traders to focus on central banks, heavy slate of economic data this week
– canadianbusiness.com
TORONTO – Central banks will be the focus of investors this week as markets look to see what the Bank of Canada plans to do about hiking interest rates down the road.
On one level, there is no mystery about what the Canadian central bank won’t do and that is raise rates from one per cent, where they have been since September 2010.
“I still think it’s more than a year away before they actually do raise rates so we’re in a long holding period here,” said Doug Porter, chief economist at BMO Capital Markets.
Still, traders will carefully scan the bank’s announcement on Wednesday for clues about when the central bank might move.
Porter said it will be interesting to see if the central bank continues to flag concerns about low inflation being the number one concern, “given the fact that inflation has marched steadily higher.”
“Headline inflation at least is now right on target.”
Canada’s annual inflation rate climbed to its highest level in two years, reaching two per cent in April, largely driven by an unusually big jump in energy prices…
On one level, there is no mystery about what the Canadian central bank won’t do and that is raise rates from one per cent, where they have been since September 2010.
“I still think it’s more than a year away before they actually do raise rates so we’re in a long holding period here,” said Doug Porter, chief economist at BMO Capital Markets.
Still, traders will carefully scan the bank’s announcement on Wednesday for clues about when the central bank might move.
Porter said it will be interesting to see if the central bank continues to flag concerns about low inflation being the number one concern, “given the fact that inflation has marched steadily higher.”
“Headline inflation at least is now right on target.”
Canada’s annual inflation rate climbed to its highest level in two years, reaching two per cent in April, largely driven by an unusually big jump in energy prices…
Egypt stock market plunges, suspends trades following reports of new capital gains taxes
– canadianbusiness.com
CAIRO – Egypt’s stock market witnessed a sharp plunge Sunday that forced a temporary suspension of trading after reports of a newly proposed government tax on capital gains which experts said was hardly explained to investors.
The half-hour suspension on the first day of the trading week at the Egyptian Exchange failed to cool a frenzy of selling by investors. The EGX30 benchmark index closed 4.22 per cent lower, or at 7,894.73 points, continuing its slide after trading was suspended after the broader EGX100 index fell by 5 per cent.
Egyptian Finance Minister Hany Kadry Dimian announced the new tax on capital gains Thursday, fuelling the market slide. He said the government will impose a 10-per cent tax on net realized portfolio profits at the end of the year. Stock market profits are currently tax-free.
Wael Ziada, the head of research at EFG Hermes, one of the Middle East’s largest investment banks, said the proposed law wasn’t clearly explained or discussed, causing the “extreme reaction” in the market…
The half-hour suspension on the first day of the trading week at the Egyptian Exchange failed to cool a frenzy of selling by investors. The EGX30 benchmark index closed 4.22 per cent lower, or at 7,894.73 points, continuing its slide after trading was suspended after the broader EGX100 index fell by 5 per cent.
Egyptian Finance Minister Hany Kadry Dimian announced the new tax on capital gains Thursday, fuelling the market slide. He said the government will impose a 10-per cent tax on net realized portfolio profits at the end of the year. Stock market profits are currently tax-free.
Wael Ziada, the head of research at EFG Hermes, one of the Middle East’s largest investment banks, said the proposed law wasn’t clearly explained or discussed, causing the “extreme reaction” in the market…
