Learn more about Canada’s top banks rates, rules and the latest news – read on!
Latest News
Canadians collectively owe $1.8 trillion in household debt + MORE Mar 13th
TORONTO _ Canadians’ collective household debt has climbed to $1.8 trillion as an international financial group sounds an early warning that the country’s banking system is at risk from rising debt levels.
Equifax Canada says consumers now owe $1.821 trillion including mortgages as of th.... More »
Scotia Momentum® VISA Infinite* Review May 15th
Attention MoneyWise readers! Sign up for the Scotia Momentum® VISA Infinite* card and, for a limited time, get $75 IN CASH via Interac e-Transfer or a gift card from RateSupermarket.ca upon approval!
Are you looking for a well-rounded, high-earning cash back credit card with travel perks and no a.... More »
Canadian banks set to reveal 1st earnings since CBC coverage on sales practices May 22nd
The Canadian banks are expected to benefit from rising U.S. interest rates and fewer bad loans in the oilpatch as they start reporting their latest quarterly results this week, but analysts say worries about the housing market and consumer debt remain key concerns..... More »
What's open on Thanksgiving Monday Oct 12th
While banks and many city services and stores will be closed in Ottawa on Thanksgiving Monday, some retailers and museums will remain open. Here is a list of stores and services that are open: Shopping: Most ByWard market vendors and stores, and other high tourist areas will have some stores open. T.... More »
New law proposed to shift bank failure risk from taxpayers Mar 23rd
Canada will introduce legislation to implement a "bail-in" regime for systemically important banks that would shift some of the responsibility for propping up failing institutions to creditors..... More »
China’s Central Bank to cut bank reserve requirement by 1 point to stimulate slowing economy
– canadianbusiness.com
BEIJING, China – China’s Central Bank said Sunday that it will cut its bank reserve requirement ratio by 1 percentage point to stimulate more lending into a slowing economy.
The new reserve requirement will take effect Monday, the bank said in a statement. The move allows banks to hold onto less of their money and lend more of it out. The Communist Party-run People’s Daily said the cut will release 1.2 trillion yuan ($194 billion) into the world’s second-biggest economy.
The Central Bank also said it will cut an extra 1 percentage point for commercial banks providing agricultural financing and an extra 2 percentage points for the Agricultural Development Bank of China. It will also cut the requirement by an additional half a percentage point to eligible banks that lend a certain share of loans to agricultural borrowers and small businesses.
The Central Bank last cut its reserve requirement in February, when it slashed the rate to 19.5 per cent for big banks and 16 per cent for small- and medium-sized banks…
The new reserve requirement will take effect Monday, the bank said in a statement. The move allows banks to hold onto less of their money and lend more of it out. The Communist Party-run People’s Daily said the cut will release 1.2 trillion yuan ($194 billion) into the world’s second-biggest economy.
The Central Bank also said it will cut an extra 1 percentage point for commercial banks providing agricultural financing and an extra 2 percentage points for the Agricultural Development Bank of China. It will also cut the requirement by an additional half a percentage point to eligible banks that lend a certain share of loans to agricultural borrowers and small businesses.
The Central Bank last cut its reserve requirement in February, when it slashed the rate to 19.5 per cent for big banks and 16 per cent for small- and medium-sized banks…
Perth-Andover under evacuation order due to flooding risk – CBC.ca
– news.google.ca
CBC.caPerth-Andover under evacuation order due to flooding riskCBC.caThe mayor of Perth-Andover, N.B., says about 200 people have been evacuated from his community after rivers threatened to breach their banks Saturday night. One massive ice jam near the village broke up Sunday evening and moved downriver shortly …Flooding risk from iceCastanet.netEvacuation order in effect for New Brunswick village at danger of flooding …Standard BulletinFlood fears spark evac in N.B. villageThe Weather NetworkCourier Islander -CTV Newsall 34 news articles »
Perth-Andover under evacuation order due to flooding risk – CBC.ca
– news.google.ca
CBC.caPerth-Andover under evacuation order due to flooding riskCBC.caThe mayor of Perth-Andover, N.B., says about 200 people have been evacuated from his community after rivers threatened to breach their banks Saturday night. One massive ice jam near the village broke up Sunday evening and moved downriver shortly …Flooding risk from iceCastanet.netEvacuation order in effect for New Brunswick village at danger of flooding …Standard BulletinFlood fears spark evac in N.B. villageThe Weather NetworkCourier Islander -CTV Newsall 34 news articles »
Austerity’s legacy: British voters must decide who they trust to heal United Kingdom’s economy
– canadianbusiness.com
LONDON – Prime Minister David Cameron and his main opponent agree on one thing going into Britain’s May 7 election: Voters should choose the next leader based on the health of the economy.
The question is whether the patient is recovering or is still on life support after the global financial crisis.
After five years of budget cuts, Cameron is focusing on the headline numbers. Inflation is down, employment is up and the economy is growing at the fastest rate among large industrialized nations. The Conservatives need five more years to cement the gains and ensure that benefits trickle down to everyone, Cameron says.
The opposition Labour Party is urging voters to look behind the headlines. Real earnings are below pre-crisis levels, employment figures are inflated by low-skill jobs, and the safety net that protects the poorest in society has been gutted, Labour leader Ed Miliband says. The use of food banks has soared as economic insecurity increased under Cameron’s government…
The question is whether the patient is recovering or is still on life support after the global financial crisis.
After five years of budget cuts, Cameron is focusing on the headline numbers. Inflation is down, employment is up and the economy is growing at the fastest rate among large industrialized nations. The Conservatives need five more years to cement the gains and ensure that benefits trickle down to everyone, Cameron says.
The opposition Labour Party is urging voters to look behind the headlines. Real earnings are below pre-crisis levels, employment figures are inflated by low-skill jobs, and the safety net that protects the poorest in society has been gutted, Labour leader Ed Miliband says. The use of food banks has soared as economic insecurity increased under Cameron’s government…
