Learn more about Canada’s top banks rates, rules and the latest news – read on!
Latest News
Chequing vs. Savings Account: What’s the Difference? Oct 2nd
When it comes to managing your finances, using the correct type of bank account is very important. But while the differences between a chequing account and a savings account may seem obvious to some, you would be shocked at the number of people who use their savings accounts for daily transactions o.... More »
U.S. dollar shortages hit Qatar exchange houses as foreign banks scale back ties Jun 11th
Saudi Arabia, the UAE, Bahraini and Egyptian banks began scaling back business with Qatar last week after their governments cut diplomatic and transport ties, accusing Doha of supporting terrorism
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How to invest in cryptocurrency (without losing your shirt) Jan 29th
I have until now not written about the ongoing cryptocurrency boom—but, given the spectacular rise of bitcoin in the last few months, and last week’s subsequent correction, decided it was time.
Upfront, I should disclose I personally started to dabble in this asset class for the first time in th.... More »
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 »
Are low interest rates doing more harm than good?
– moneysense.ca
Mark Carney was oddly framed by TV cameras when he made his hasty post-Brexit address the morning after the United Kingdom voted to leave the European Union. Standing behind a lectern, but in front of an open doorway, the governor of the Bank of England appeared as though trapped inside a box. It was fitting for a man who’s now expected to fix the U.K.’s looming economic crisis using, mainly, a single, indiscriminate weapon—interest rate policy—that’s been mostly emptied of ammunition. Nevertheless, as the British pound plunged to a 31-year low and stock markets around the world temporarily swooned, Carney declared the central bank was “well prepared” for the uncertainty ahead. He fleshed out the central bank’s plans a week later when he relaxed capital requirements for banks and all but promised to cut rates to 0.25%, from 0.5% now, at the Bank’s next monetary policy committee meeting. “The economic outlook has deteriorated,” he said, “and some monetary policy easing will likely be required over the summer…
