Banking in Canada can be a murky subject – one that we hope to shed some light on with a series of highly informational articles.
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International Vacation? Tips to Exchange Currency for the Best Rates + MORE Jul 31st
Whether it’s to the U.S. or elsewhere outside of Canada, your travel will mean transactions in another currency. You can get foreign cash before you leave, use local ATMs, put everything on your credit card, or depend on currency exchange brokers, to name a few. Here are the pros and cons of .... More »
Can challengers like EQ Bank and Wealthsimple take on the big banks? Sep 26th
It’s not easy going up against Canada’s banking oligopoly, but some are trying.
Challengers like EQ Bank and Wealthsimple are rolling out new and cheaper offerings, growing their base and gaining brand recognition. But experts say that rather than creating a disruptive threat to the big banks.... More »
The Best Credit Cards to Use for the 2018 Holiday Season Dec 10th
There are exactly 14 shopping days left until Christmas, and whether you’re ahead of the game or behind on your shopping list, you may already be feeling some shopping lethargy. But don’t despair: depending on your preferred method of payment, you may be able to get rewarded for running around .... More »
Why we pay so much for chequing accounts Aug 16th
The big banks typically have offerings costing well below $15, but extra service fees can pile up if you’re not careful
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Four in 10 Canadians Say They are Victims of Identity Theft Mar 21st
Identity theft is an intricate crime, but its cause is very simple: Ignorance, Lack of Awareness and easy availability of vulnerable information.
According to a recent study conducted by Equifax Canada, attempts of credit card fraud have increased by 42 percent over the last two years. Suspected tru.... More »
Credit-easing steps taken by the world’s central banks, at a glance
– canadianbusiness.com
On Wednesday, the Federal Reserve signalled that it plans to keep a key interest rate at a record low because a broad range of U.S. economic measures remain subpar.
It said it intends to keep its benchmark rate near zero as long as inflation remains under control, until it sees consistent gains in wage growth, long-term unemployment and other gauges of the job market. The Fed reiterated that it plans to keep short-term rates low “for a considerable time” after it ends its monthly bond purchases in November.
Earlier in the day, investors were cheered by news reports that China’s central bank would inject a total of 500 billion yuan ($81 billion) into the five biggest state banks over three months. Additional financial system liquidity would build on measures to strengthen growth amid a bout of weak economic data. There was no official confirmation of the reports.
Here are steps that major central banks around the world have taken to try to bolster their economies:
— FEDERAL RESERVE
Interest rates: The Fed plans to keep its key short-term rate at a record low…
It said it intends to keep its benchmark rate near zero as long as inflation remains under control, until it sees consistent gains in wage growth, long-term unemployment and other gauges of the job market. The Fed reiterated that it plans to keep short-term rates low “for a considerable time” after it ends its monthly bond purchases in November.
Earlier in the day, investors were cheered by news reports that China’s central bank would inject a total of 500 billion yuan ($81 billion) into the five biggest state banks over three months. Additional financial system liquidity would build on measures to strengthen growth amid a bout of weak economic data. There was no official confirmation of the reports.
Here are steps that major central banks around the world have taken to try to bolster their economies:
— FEDERAL RESERVE
Interest rates: The Fed plans to keep its key short-term rate at a record low…
Scotland’s Yes side is counting on a quick re-entry to the European Union if voters opt for independence in the referendum Thursday.
Argentina’s peso drops to 15 per US dollar on country’s black market, its weakest on record
– canadianbusiness.com
BUENOS AIRES, Argentina – The value of Argentina’s peso has hit its lowest level ever on the black market.
The peso weakened 2.5 per cent Wednesday to close at 15 per U.S. dollar. That’s far cheaper than the official exchange rate, which closed at 8.4 pesos per dollar.
Confidence is dwindling in Argentina’s frail economy, which is in recession as it struggles with one of the world’s highest inflation rates and a drop in foreign currency reserves.
Argentines are haunted by memories of the 2001 economic crisis, when banks froze deposits and the currency lost value. So they are eager to obtain and hold dollars as a safety net.
Tough government restrictions on exchanging pesos for dollars have backfired by pushing many people to buy greenbacks on the black market, driving down the peso’s value.
The post Argentina’s peso drops to 15 per US dollar on country’s black market, its weakest on record appeared first on Canadian Business.
The peso weakened 2.5 per cent Wednesday to close at 15 per U.S. dollar. That’s far cheaper than the official exchange rate, which closed at 8.4 pesos per dollar.
Confidence is dwindling in Argentina’s frail economy, which is in recession as it struggles with one of the world’s highest inflation rates and a drop in foreign currency reserves.
Argentines are haunted by memories of the 2001 economic crisis, when banks froze deposits and the currency lost value. So they are eager to obtain and hold dollars as a safety net.
Tough government restrictions on exchanging pesos for dollars have backfired by pushing many people to buy greenbacks on the black market, driving down the peso’s value.
The post Argentina’s peso drops to 15 per US dollar on country’s black market, its weakest on record appeared first on Canadian Business.
