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
#5: Brane Inc. Feb 7th
In the unpredictable world of cryptocurrency, Brane has become a safe haven. The financial-technology company’s mission is to demystify the confusing and ever-changing landscape of digital assets—blockchain, crypto and non-fungible tokens included—for its largely conservative clientele.
Sin.... More »
U.S. tax reform increases chance of 'slow bleed' of investment from Canada: TD Feb 13th
Two of Canada's big banks are sounding the alarm over the negative impact that Canada's economy will see as a result of new tax reform measures in the U.S. under the Trump administration..... More »
Greek banks reopen as Tsipras eyes return to normal - Reuters Canada + MORE Jul 20th
Reuters CanadaGreek banks reopen as Tsipras eyes return to normalReuters CanadaATHENS (Reuters) - Greeks queued outside banks on Monday as they reopened three weeks after closing to stop the system collapsing under a flood of withdrawals, the first cautious sign of a return to normal after a deal to.... More »
Shareholders push for ethical AI use at Canada’s biggest companies Jul 23rd
When Canada’s most valuable companies hosted their annual general meetings this year, there was a new topic for shareholders to vote on among the usual requests to appoint board members and OK their executive compensation.
The proposal from Quebec-based investor rights group le mouvement d’é.... More »
Banks expected to highlight cost containment as they report earnings + MORE Nov 29th
TORONTO – Grappling with a perfect storm of economic and operating challenges, Canada’s biggest banks are expected to emphasize their efforts to rein in costs as they report their fourth-quarter earnings this week.
“They need a catalyst to grow earnings, and increasingly I think th.... More »
Bank of Canada Announcement: Inflation And Debt Still Top Concerns
– ratesupermarket.ca
In its latest announcement, the Bank of Canada has maintained its overnight lending rate, which sets the cost of borrowing in Canada, at one per cent. The lack of movement isn’t much of a shocker – the rate hasn’t budged since September 2010, and there’s little doubt the Bank is sticking to its commitment to seeing stronger economic growth before hiking interest rates.
The real news is written between the lines of the overall statement, where the BoC reveals its largest concerns for economic threats and the overall sentiment for Canada’s economy. Here’s a look at how this can affect you.
1: Your Variable Mortgage Rate Isn’t Going Anywhere… This Year
The Bank of Canada’s Overnight Lending Rate sets the benchmark for borrowing money in Canada; keeping it at one per cent means the banks can borrow from each other with ease, and that discount is passed down to the consumer. It’s why the best variable rate currently sits as low as 2.35 per cent on our Best Mortgage Rates Table, while the best fixed rates still hover around the three per cent mark…
The case of an Ontario man who was charged more than $80,000 on his credit card for purchases he claims he didn’t make is raising new questions about the security of online and credit card transactions and whether banks are shifting liability for fraud to their customers.
Bank of Canada Announcement: Inflation And Debt Still Top Concerns
– ratesupermarket.ca
In its latest announcement, the Bank of Canada has maintained its overnight lending rate, which sets the cost of borrowing in Canada, at one per cent. The lack of movement isn’t much of a shocker – the rate hasn’t budged since September 2010, and there’s little doubt the Bank is sticking to its commitment to seeing stronger economic growth before hiking interest rates.
The real news is written between the lines of the overall statement, where the BoC reveals its largest concerns for economic threats and the overall sentiment for Canada’s economy. Here’s a look at how this can affect you.
1: Your Variable Mortgage Rate Isn’t Going Anywhere… This Year
The Bank of Canada’s Overnight Lending Rate sets the benchmark for borrowing money in Canada; keeping it at one per cent means the banks can borrow from each other with ease, and that discount is passed down to the consumer. It’s why the best variable rate currently sits as low as 2.35 per cent on our Best Mortgage Rates Table, while the best fixed rates still hover around the three per cent mark…
