Learn more about Canada’s top banks rates, rules and the latest news – read on!
Latest News
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Flying is no longer the best way to earn miles or points. The biggest bang for your buck comes from signing up for the right credit card.
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Motusbank Online Bank Launches With Low HELOC, Competitive GICs + MORE Apr 3rd
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Making sense of the markets this week: June 28 Jun 26th
Each week, Cut the Crap Investing founder Dale Roberts shares financial headlines and offers context for Canadian investors.
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The best credit cards in Canada for 2023
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Canadian banks argue against Canada Post getting into banking Jul 14th
The lobby group representing Canada's big banks says there's no need for Canada Post to expand onto their turf because Canadians already have an abundant choice of financial services..... More »
Big banks, waited years for a rate hike, get pummeled
– canadianbusiness.com
NEW YORK, N.Y. – With oddsmakers all but pulling a summer rate hike off the table after a terrible U.S. jobs report and a wash of other disheartening economic data, the nation’s biggest banks took pummeling from investors Friday.
The financial sector has been waiting seven years for the Federal Reserve to increase the short-term interest rates substantially, which allows banks to follow with higher rates for borrowing.
The Fed raised rates at the end of last year, but just barely.
The report from the Labor Department on Friday, showing that there was a drastic slowdown in hiring by U.S. employers in May, rewrote the story many had expected to unfurl later this month and in July when the Fed meets.
Financials were the biggest decliner by far of the 10 Standard & Poor’s sectors Friday, with the biggest banks leading the way down.
Bank of America Corp. took the biggest tumble in midday trading, down 4.2 per cent. Shares of Citigroup Inc. also traded down more than 4 per cent as CEO Mike Corbat suggested second-quarter earnings would drop 25 per cent from the same period last year…
The financial sector has been waiting seven years for the Federal Reserve to increase the short-term interest rates substantially, which allows banks to follow with higher rates for borrowing.
The Fed raised rates at the end of last year, but just barely.
The report from the Labor Department on Friday, showing that there was a drastic slowdown in hiring by U.S. employers in May, rewrote the story many had expected to unfurl later this month and in July when the Fed meets.
Financials were the biggest decliner by far of the 10 Standard & Poor’s sectors Friday, with the biggest banks leading the way down.
Bank of America Corp. took the biggest tumble in midday trading, down 4.2 per cent. Shares of Citigroup Inc. also traded down more than 4 per cent as CEO Mike Corbat suggested second-quarter earnings would drop 25 per cent from the same period last year…
