One-year GICs see boom in popularity thanks in part to interest rate hikes
Brandon Brot has found himself much sought after at dinner parties and other gatherings over the past year. Brot, the principal at GIC Wealth Management, which currently has over $500 million under management, says enquiries related to Guaranteed Investment...
Bank of Canada increases policy interest rate by 50 basis points, continues quantitative tightening
The Bank of Canada today increased its target for the overnight rate to 3¾%, with the Bank Rate at 4% and the deposit rate at 3¾%. The Bank is also continuing its policy of quantitative tightening. Inflation around the world remains high and broadly based. This...
Bank of Canada raises key interest rate by 0.75 per cent: Here’s what happened
What to watch for next OTTAWA — Senior deputy governor Carolyn Rogers will deliver a speech to Calgary Economic Development on Thursday at 11:40 a.m. explaining the thinking behind today’s decision. This will be followed by a news conference at 1 pm. The Bank of...
Bank of Canada increases policy interest rate by 100 basis points, continues quantitative tightening
The Bank of Canada today increased its target for the overnight rate to 2½%, with the Bank Rate at 2¾% and the deposit rate at 2½%. The Bank is also continuing its policy of quantitative tightening (QT). Inflation in Canada is higher and more persistent than the Bank...
Bank of Canada increases policy interest rate by 50 basis points, continues quantitative tightening
The Bank of Canada today increased its target for the overnight rate to 1½%, with the Bank Rate at 1¾% and the deposit rate at 1½%. The Bank is also continuing its policy of quantitative tightening (QT). Inflation globally and in Canada continues to rise, largely...
Betrayed by bonds and bruised about stocks, investors turn to GICs
ROB CARRICK, The Globe and Mail We have ourselves a bull market in the unlikeliest of places – guaranteed investment certificates. Worn down by bad news both in and out of the financial world, investors are turning to GICs for a combination of much-improved interest...
Betrayed by bonds and bruised about stocks, investors turn to GICs
ROB CARRICK, The Globe and Mail
Steady interest in guaranteed investment certificates driven by uncertainty on rally’s length, expert says In a normal stock market rally, GIC broker Brandon Brot typically sees a drop-off in client investment flows…
Bank of Canada raises key interest rate by 50 basis points
OTTAWA - OTTAWA - The Bank of Canada has raised its key interest rate by half a percentage point to 1% from 0.5%, the first half-point hike in more than two decades amid soaring inflation. This is a breaking news update, our previous story follows... The Bank of...
Bank of Canada interest rate announcement and release of the Monetary Policy Report
OTTAWA – On Wednesday, April 13, 2022, the Bank of Canada will announce its decision on the target for the overnight rate. A press release will provide a brief explanation of the decision. The Bank will also publish its quarterly Monetary Policy Report (MPR) at the...
Bank of Canada maintains policy rate, removes exceptional forward guidance
The Bank of Canada today held its target for the overnight rate at the effective lower bound of ¼ %, with the Bank Rate at ½ % and the deposit rate at ¼ %. With overall economic slack now absorbed, the Bank has removed its exceptional forward guidance on its policy...