RWRDS Daily Update – November 20, 2023 + MORE Nov 20th

AIR MILES’ Early Black Friday offer for shopping online via the AIR MILES Shops portal is here! Collectors will earn 20x miles sitewide on any and all purchases that earn at least 1 base mile.  This offer is available until November 27, 2023. There are also some individual merchants like Dyson, Sephora, Walmart and more […]
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New Amex Offers for Luxury Escapes and Just Golf Stuff, Save 40% on Pointsyeah Online Award search premium memberships and Air Canada is bringing back non-stop Calgary to Ottawa flights. Check out today’s points & miles updates here:
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A new Amex Offers statement credit offer came out today for ALL Accor Live Limitless. Cardmembers who are targetted for this offer will receive a $50 statement when spending $250 at select properties in Canada or the U.S. Spend can be made in a single stay or cumulative across multiple stays. Spend $250 get a […]
The post Amex Offers: Spend $250 at Novotel Hotels in Canada or the U.S. and receive a $50 statement credit appeared first on Rewards Canada.

In late 2020, major banks were offering 5-year guaranteed investment certificates (GICs) with rates of less than 1%. Now, just three years later, bank GIC rates for 5-year terms are over 4%. Some credit unions and trust companies are offering rates over 6% for short-term GICs, though 4- and 5-year rates are just under 6%.

It is uncommon to see long-term rates lower than short-term rates. This is a situation called an inverted yield curve. It signals expectations that interest rates will fall in the future. It can also forecast a recession, which tends to result in lower interest rates to stimulate a weakening economy.

Bank of Canada interest rate forecast for 2024

Most interest rate forecasts see rates declining in Canada in 2024. RBC Economics predicts the Bank of Canada’s overnight rate will drop by 1% by the fourth quarter of 2024. Scotiabank agrees with RBC, and TD is forecasting a 0.75% decline by the end of 2024.

Forecasts are not always accurate, but the consensus seems to be that rates could be lower next year…