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Category: FYI/Blog

Big Six banks raise prime rates but leave savings rates where they are

Canada’s biggest banks didn’t waste any time raising their prime lending rates following the Bank of Canada’s interest rate hike announcement this week. But of course interest rates on savings accounts, bonds, and GICs didn’t budge.

To read full article please click on the link below:

http://www.lowestrates.ca/news/big-six-banks-raise-prime-rates-leave-savings-rates-where-they-are-24748

Bank of Canada raises interest rate for 1st time in 7 years to 0.75%

Bank of Canada raises interest rate for 1st time in 7 years to 0.75% – Business – CBC News

The Bank of Canada has raised its key interest rate as expected to 0.75 per cent — the central bank’s first move upward in the cost of borrowing in seven years.

The bank’s target for the overnight rate — at which major financial institutions make one-day loans to each other — moved up by one-quarter of a percentage point from 0.50 per cent.

To read full article please click on the link below:

http://www.cbc.ca/news/business/bank-canada-interest-rate-monetary-policy-1.4200814

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Hey, aren’t GICs supposed to be stress-free investments?

These are worrying times for people who put money into savings accounts and guaranteed investment certificates sold by subsidiaries of troubled Home Capital. Clients have pulled millions of dollars out of savings accounts from Oaken Financial and Home Trust, but GIC assets remained largely untouched as of early this week.

Please click the link below to see full article written featuring us:

http://www.theglobeandmail.com/globe-investor/personal-finance/household-finances/hey-arent-gics-supposed-to-be-stress-free-investments/article34872127/

Despite strong job creation and 2% inflation, Bank of Canada has room to hold rates: Don Pittis

Despite strong job creation and 2% inflation, Bank of Canada has room to hold rates: Don Pittis – Business – CBC News

Bank of Canada governor Stephen Poloz on Friday fulfilled a ceremonial role by unveiling a glamorous new $10 bill to celebrate the country’s sesquicentennial.

This week, Poloz will discharge an even more fundamental duty, announcing the policy that makes sure the fancy 10, and the rest of Canada’s money, retains its value.

To read full article please click on the link below:

http://www.cbc.ca/news/business/bank-of-canada-inflation-rates-poloz-1.4059113


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