Bank of Canada raises interest rate again

Bank of Canada raises interest rate again

The Bank of Canada announced this week that they were increasing their overnight rate by 25 percentage points, the second such raise in as many months. The bank cited economic growth for their position change.  Recent economic data have been stronger than expected,...
Higher interest rates. Now what?

Higher interest rates. Now what?

The Bank of Canada finally increased its bench mark rate to 0.75% (up 0.25 percentage points) after 7 years of leaving the key interest steady and even reducing it a couple of times.  Typically, any change in the Bank of Canada rate directly impacts the banks’ prime...
Bank of Canada finally raises interest rate

Bank of Canada finally raises interest rate

For the first time in 7 years, the Bank of Canada didn’t announce that they were keeping their overnight rate at 0.5%. Instead, they announced this week a rate increase: to 0.75%. The bank cited economic growth—both domestic and international—for their position...
Bank of Canada holds interest rates at 0.5%

Bank of Canada holds interest rates at 0.5%

Earlier this week, the Bank of Canada sidestepped a cut to its key overnight rate, keeping it at 0.5%. Even thought there has been a stronger-than-expected run in the economic data, the Bank isn’t convinced that the economy has yet shown it has what it takes to stick...
What the US rate hikes mean for Canadians

What the US rate hikes mean for Canadians

As Pierre Trudeau once said about living so close to the United States, “Living next to you is in some ways like sleeping with an elephant. No matter how friendly or even tempered is the beast, one is affected by every twitch and grunt’. That statement, said almost 40...
Bank Of Canada keeps interest rates the same

Bank Of Canada keeps interest rates the same

If one of your new year’s resolutions was to get back on track with your financial goals and wealth growth plans, now is a perfect time. Our goal this year is to mitigate the impact of interest rate changes to you. I’ll show you ways to have more of your hard-earned...