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Is now the time for retirees to sell stocks and buy GICs? Mar 4th
My husband is retired and concerned that his money that is invested in his RRSP and TFSA is fluctuating too much. He is retired and is wondering if his funds should be in a GIC account as it’s paying 4% and not losing principal. He’s concerned in this volatile market.—Rodeen
Are GICs a good.... More »
Interest rate hike, new mortgage rules may trigger real estate market slowdown + MORE Jan 16th
TORONTO _ Canada’s real estate market will hit a slow patch in 2018 as tighter mortgage stress tests apply pressure and the impact could be exacerbated if an expected interest rate hike drives buyers to put off their home purchases, economists said Monday.
The Bank of Canada will make its firs.... More »
Should you consider using joint accounts to avoid probate? Apr 17th
Q. My mother is a widow and I am an only child (single, never married, with one child of my own). Now that she is 83, she thinks she should put my name on all her bank accounts and investments so if she becomes unable, I would have control as joint account holder to pay any bills that come up. My na.... More »
Trump says U.S. is ready to act alone on North Korea Apr 3rd
US President Donald Trump holds a National Economic Council listening session with the CEOs of small and community banks, in the Roosevelt Room at the White House in Washington, DC, USA, 09 March 2017. Trump wants to hear from some twelve CEOs what might prevent them from lending to consumers and sm.... More »
Canada’s best Mastercard credit cards for 2023 Jan 3rd
Mastercard is one of the most widely accepted credit cards in the world, and its association with the Bank of Montreal and status as the only card you can use at Costco make it a strong choice for everyday spending. Whatever you need in a credit card—whether it’s opportunities to earn cash or re.... More »
In the rush to get the economic headlines of the day, it can be hard to get a sense of what a development really means. The weekend Morning Playbook is an attempt to go a little deeper into the debate over the issues or events in the news this week.
It’s the ear-grinding phrase that was everywhere this past week: quantitative easing. But a boring word hides a lot of big questions: even if the European Central Bank has committed to the “bazooka” (as journalists are fond of calling it), will the program really offer a magic bullet for the eurozone economy?
First, a recap: on Thursday, the ECB announced they would begin a program of quantitative easing, otherwise known as when a government “prints” money (a.k.a., they create the money electronically), and uses the new “cash” to purchase massive amounts of assets, mainly government bonds. As the demand for those bonds increases, prices rise, and interest rates fall – which, ideally, creates a ripple effect that means banks are more willing to lend, and borrowing is cheaper for everyone…
Romanians protest repayments for Swiss franc loans, blame the banks, urge new laws
– canadianbusiness.com
BUCHAREST, Romania – Hundreds of people have protested in Romania against high repayments for Swiss franc loans, blaming the banks for offering deceptively cheap loans and calling on the government to regulate hard currency loans.
“The bank tricked us!” yelled up to 1,000 demonstrators gathered in a downtown square. “You have the power, we have the pain!” read one banner.
About 75,000 Romanians have loans in Swiss francs, taking them out during the economic boom of the mid-2000s, because they had a lower interest rate.
They have been hit by a strong franc and even more so after the Swiss National Bank abolished its currency ceiling this month causing the franc to increase by 40 per cent against the euro.
Lawmakers are discussing implementing rules to protect people who take out hard currency loans.
The post Romanians protest repayments for Swiss franc loans, blame the banks, urge new laws appeared first on Canadian Business.
“The bank tricked us!” yelled up to 1,000 demonstrators gathered in a downtown square. “You have the power, we have the pain!” read one banner.
About 75,000 Romanians have loans in Swiss francs, taking them out during the economic boom of the mid-2000s, because they had a lower interest rate.
They have been hit by a strong franc and even more so after the Swiss National Bank abolished its currency ceiling this month causing the franc to increase by 40 per cent against the euro.
Lawmakers are discussing implementing rules to protect people who take out hard currency loans.
The post Romanians protest repayments for Swiss franc loans, blame the banks, urge new laws appeared first on Canadian Business.
