Central bank makes eagerly awaited announcement on benchmark rate

General Michael Distefano 24 Jan

The Bank of Canada has left its policy rate unchanged in its first announcement of the year, keeping rates where they are for a fourth straight decision but giving little indication of a timeline for possible cuts. The central bank revealed on Wednesday that its overnight rate, which leads variable mortgage rates in Canada, would […]

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Canada lost 17,000 jobs in May, said Statistics Canada

General Michael Distefano 9 Jun

The Bank of Canada cited continuing strength in the labour market in announcing its decision to raise its key overnight lending rate to 4.75 percent. By Josh Rubin Business Reporter Friday, June 9, 2023 A help wanted sign is seen in a storefront along Queen St. W. in Toronto. Strong job growth and a tight […]

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Bank of Canada announces new rate hike

General Michael Distefano 7 Jun

The central bank has returned to rate increases after a pause By Fergal McAlinden The Bank of Canada has announced a 25-basis-point increase to its benchmark interest rate, returning to a rate-hiking policy after hitting a pause in its last two announcements. The move, which brings that trendsetting rate to 4.75%, arrives amid a flurry of […]

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10 Money Saving Tips!

General Michael Distefano 6 Jun

When it comes to saving money, there are a lot of little things you can do that add up to make a big difference!  Here are 10 of my favorite money-saving tips to help get you started today: Automatic Savings are one of the most effective ways to save because you can’t spend what you […]

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Bank of Canada sounds warning on homeowner mortgage burdens

General Michael Distefano 18 May

  Nearly all’ mortgages will see payments increase by 2026 – but most households should cope The Bank of Canada has expressed its concern over households’ ability to absorb the shock of higher borrowing costs as a growing number turn to credit cards to service their debt loads. In its annual Financial System Review, released […]

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Bank of Canada raises key interest rate for eighth time, to 4.5 per cent. What you need to know

General Michael Distefano 25 Jan

By Josh Rubin Business Reporter Wed., Jan. 25, 2023 Central bank signals its rate-hiking campaign could finally be over, while it “assesses the impact of the cumulative interest rate increases.” The interest rate hikes are over — probably. The Bank of Canada raised its key overnight lending rate for the eighth straight time Wednesday morning but […]

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What is mortgage refinance?

General Michael Distefano 28 Apr

Mortgage Refinance Learn what it means to refinance your mortgage loan and how this could help you reach your goals. Refinancing your mortgage means renegotiating your existing mortgage loan agreement. You might do this to consolidate debts, or you could use the equity in your property to increase your mortgage loan amount for large expenses. […]

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Bank of Canada Warns Rates May Climb Even Higher Than “Neutral”

Latest News Michael Distefano 26 Apr

  High inflation has become such a risk to the economy, the central bank will do anything to slow it. That might include raising interest rates higher than already aggressive forecasts have called. This was the message from the Bank of Canada (BoC) at the Standing Committee on Finance today. The central bank Governor made […]

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