One big bank expects BoC interest rates to hold steady into next year – but not everyone agrees.
The Bank of Canada is holding its benchmark interest rate steady at 0.5 per cent. The rate has been held there for more than a year. The Bank says there’s still too much uncertainty to raise rates – particularly due to the new U.S. president being sworn in this week.
Now that you’ve handled your debt, it’s time to take money management to the next level – and that’s ensuring your good financial standing. Make your savings work for you by exploring options such as high interest savings accounts and GICs, and learn the ins and outs of applying for loans – without hurting your credit.
Most people are aware of the financial crisis in Europe and the determination to overcome the problems within countries like Greece, Ireland, Portugal, Spain and Italy. But what most do not realize is one of the biggest challenges facing Europe right now is the distortion to the natural flow of money.
There are many reasons to break up with your bank. Over the top service charges, no branches or ATMs on your regular route, crappy customer service and products that just don’t suit your needs all can add up to a bank-customer relationship that’s no longer working. Even something like getting married and having spouses at different banks can make you wonder if it’s time for a change.