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
Canada’s banks take pride in message of LGBT support Jun 25th
Banks say support for gay rights is reflection of internal commitments even if it may appear to be a PR stunt
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So You Overspent During the Holidays… Now What? + MORE Jan 7th
From buying gifts to entertaining to taking advantage of Boxing Day sales, there are a lot of opportunities to spend more than you budgeted for over the holidays. That means that many people are starting off 2016 with a holiday hangover in the form of credit card debt.
Click here for the best low i.... More »
Should you consider using joint accounts to avoid probate? Apr 17th
Q. My mother is a widow and I am an only child (single, never married, with one child of my own). Now that she is 83, she thinks she should put my name on all her bank accounts and investments so if she becomes unable, I would have control as joint account holder to pay any bills that come up. My na.... More »
Allowance apps are the modern piggy banks and they could really help your kids Nov 29th
Canadian youth get top marks for financial literacy but more than one in ten 15-year-olds struggle with basic financial skills. But new allowance apps can help them manage their chores and allowance..... More »
Lower Rates Means Less Stress in the “Stress Test” + MORE Jul 24th
Starting now, Canadian mortgage seekers will find it easier to qualify for more money. That’s because the Bank of Canada has dropped its five year benchmark qualifying rate from 5.34 percent to 5.19 percent. This is the rate banks use to qualify would-be-homebuyers for a mortgage.
This is the fir.... More »
Reasons why Flaherty was both a great and not-so-great finance minister
– canadianbusiness.com
OTTAWA – History will judge Jim Flaherty highly.
Economists in the private sector and in academia agree that the impish lawyer from Main Street — working-class Whitby, not tony Rosedale — should be judged as one of the most important and best finance ministers in the country’s history.
Being Canada’s third-longest serving finance minister made him notable; navigating one of the most serious financial crises of the past six decades — and reaching calmer waters ahead of his peers — puts him in elite company.
But no one who held the role for eight years, most of them in a minority government, could avoid the odd slip-up — and Flaherty was no exception.
Based on interviews with private-sector economists and academics, here are the Top 5 reasons Flaherty should be considered among Canada’s best three finance ministers of the post-Second World War era, as well as his five most glaring missteps.
Handling of the 2008-09 crisis. Canada’s recession was shallower than in other G7 nations, and the recovery came faster and stronger, thanks in part to Canada’s stronger fundamentals — robust banks and a government in surplus…
Economists in the private sector and in academia agree that the impish lawyer from Main Street — working-class Whitby, not tony Rosedale — should be judged as one of the most important and best finance ministers in the country’s history.
Being Canada’s third-longest serving finance minister made him notable; navigating one of the most serious financial crises of the past six decades — and reaching calmer waters ahead of his peers — puts him in elite company.
But no one who held the role for eight years, most of them in a minority government, could avoid the odd slip-up — and Flaherty was no exception.
Based on interviews with private-sector economists and academics, here are the Top 5 reasons Flaherty should be considered among Canada’s best three finance ministers of the post-Second World War era, as well as his five most glaring missteps.
Handling of the 2008-09 crisis. Canada’s recession was shallower than in other G7 nations, and the recovery came faster and stronger, thanks in part to Canada’s stronger fundamentals — robust banks and a government in surplus…
Rajan rolls out red carpet for foreign banks in India
– theglobeandmail.com
The former IMF chief economist is trying to use foreign banks as a wedge to foster innovation and small-business lending
