The best high-interest savings accounts in Canada for 2026 + MORE Mar 16th
Canadians to see lower fees and simpler account transfers + MORE Nov 6th
RECO registrar loses job in wake of iPro Realty scandal - Toronto Star Aug 22nd
Rate cuts in the second-half of next year look reasonable; buy gold in the meantime: Eric Green - BNN Bloomberg Nov 6th
Dow drops 860 points, and Japanese stocks suffer worst crash since 1987 amid U.S. economy worries - Yahoo Canada Finance Aug 5th
Jobs in Canada: Unemployment at 5.5% – CTV News
– news.google.ca
Making sense of the markets this week: September 10, 2023
– moneysense.ca
Kyle Prevost, editor of Million Dollar Journey and founder of the Canadian Financial Summit, shares financial headlines and offers context for Canadian investors.
Borrowers relieved as interest rates stays at 5%
The Bank of Canada (BoC) announced on Wednesday that it would hold interest rates at 5%, at least until the next decision date, October 25.
Given the surprising news of negative gross domestic product (GDP) numbers and slightly higher unemployment rates last month, the decision not to raise rates had been widely forecast.
The BoC recognized these realities by saying, “The Canadian economy has entered a period of weaker growth.”
Interestingly though, the Canadian central bank was still cautious with its overall messaging, communicating to investors that they were, “prepared to increase the policy interest rate further if needed.” Of course, one would imagine that a central bank is always ready to increase the interest rate “if needed”—as that’s essentially the job description…
