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
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!