The “Big Five” Canadian banks include Royal Bank of Canada, Toronto Dominion Bank (TD Canada Trust), Bank of Nova Scotia, Bank of Montreal and Canadian Imperial Bank of Commerce (CIBC). Are there other viable options?
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MoneySense is an award-winning magazine, helping Canadians navigate money matters since 1999. Our editorial team of trained journalists works closely with leading personal finance experts in Canada. To help you find the best financial products, we compare the offerings from over .... More »
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China eases exchange rate control to let currency fluctuate more widely against the dollar
– canadianbusiness.com
BEIJING, China – China announced on Saturday a modest easing of exchange rate controls that have been criticized by Washington and other trading partners, adding to a flurry of reform initiatives aimed at making its slowing economy more efficient.
The range in which the tightly controlled yuan is allowed to fluctuate against the dollar each day will double in size, though to a still relatively narrow 2 per cent.
The move was widely expected after Premier Li Keqiang promised in an annual policy speech last week to give market forces a “decisive role” in allocating credit and other resources in the state-dominated economy.
The ruling Communist Party says it wants to inject more competition into the economy and nurture self-sustaining growth based on domestic consumption instead of trade and investment.
In a steady drumbeat of recent changes, authorities also have announced plans to create China’s first privately financed banks and promised to ease the tax and regulatory burden on entrepreneurs…
The range in which the tightly controlled yuan is allowed to fluctuate against the dollar each day will double in size, though to a still relatively narrow 2 per cent.
The move was widely expected after Premier Li Keqiang promised in an annual policy speech last week to give market forces a “decisive role” in allocating credit and other resources in the state-dominated economy.
The ruling Communist Party says it wants to inject more competition into the economy and nurture self-sustaining growth based on domestic consumption instead of trade and investment.
In a steady drumbeat of recent changes, authorities also have announced plans to create China’s first privately financed banks and promised to ease the tax and regulatory burden on entrepreneurs…
Canada’s largest bank has been named in a lawsuit initiated by a top U.S. banking regulator that accuses RBC and more than a dozen of the world’s largest banks of colluding to fix a key international lending rate.
