Your March Money Update

March Money Update

March may come in like a lion, but our economy is in for a lambish season. The Bank of Canada has decided to hunker down and wait out the short-term effects of oil, declaring last month’s interest-rate cut will be enough to keep spending and inflation afloat.

Meanwhile, a debate rages over Canadians’ savings options – will weakened government coffers mean the Conservatives will renege on their long-awaited promise to double TFSAs? Read on for the latest.

Bank of Canada Keeps Overnight Lending Rate at 0.75%

It was a somewhat anti-climatic end to the most anticipated Bank of Canada announcement since the financial crisis: the central bank decided not to cut its rate further, leaving it at 0.75%. What does this mean for consumers, the cost of borrowing and the economy? Read on to find out.

Read Penelope’s Blog | Bank of Canada Keeps Overnight Lending Rate at 0.75%

Can Canada Afford to Double TFSAs?

Doubling the contribution room for TFSAs to $10,000 annually has long been promised by the Conservative government in the case of a balanced budget. But oil has thrown a wrench into those plans – can the government still afford to fulfill their campaign promise? And would it truly benefit the average Canadian?

Read Sean’s Blog | Can Canada Afford to Double TFSAs?

6 Credit Card Scams to Watch Out For

Did you know – March is Fraud Awareness Month in Canada! Despite efforts to educate the public about fraud, financial and banking scams are still a rampant problem, especially for credit cards. The first step in avoiding being a victim is awareness – read on to learn more about the top 6 credit card scams targeting your plastic.

Read Barry’s Blog | 6 Credit Card Scams to Watch Out For

More Canadians Are Turning to Alternative Online Lenders

Alternative online lenders are growing in popularity as steeper mortgage rules prevent some would-be buyers from getting traditional loans. Here’s what you need to know about them.

Read Allan’s Blog | More Canadians Are Turning to Alternative Online Lenders

7 in 10 Canadians Don’t Retire When Planned

7 in 10 Canadians have an unplanned retirement, according to SunLife Financial. Are you prepared to leave the workforce early?

Read Sean’s Blog | 7 in 10 Canadians Don’t Retire When Planned

#RSMWIN

This week, we asked our Twitter followers:

Have you had to pay for any unexpected winter expenses?

54% : No

45% : Yes

Want your chance to WIN a $25 gift card? Answer this week’s Q:

Do you plan to pay to travel for March Break?

Tweet your answer to this week’s Q to @RateSupermarket with #RSMWIN!

Related Topics

Credit Card News / Credit Cards / Mortgage News / Mortgages / Savings / Savings News

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