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Additional interest rate cuts offered to credit card customers requiring payment deferrals as a result of COVID-19.
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As universally expected, the Bank of Canada is maintaining its target overnight rate at 0.5 per cent. It’s been at this level since mid-2015, so in other words, this is the 15th consecutive meeting where rates have remained unchanged. In its accompanying statement, the Bank says there are still several key reasons for keeping rates at near historic lows…
Canadians put a lot less money into their TFSAs last year, according to a recent survey from BMO Financial Group, and most of them cite the same reason for their decision: they simply didn’t have any extra money to work with. Overall, the average person put in…
As expected, the Bank of Canada is holding its key overnight interest rate at 0.5 per cent. In what some are calling the shortest policy statement in history, the announcement was made as scheduled at…
More than a third of all Canadians are withdrawing their RRSPs early, with many using the money to pay down debt or for basic living expenses, according to BMO’s annual RRSP study. At the same time, fewer Canadians plan to contribute to RRSPs this year in comparison to last.
RateSupermarket.ca introduces the 2016 winners of the Best of Finance awards! In this post, we’re recognizing some of the best banking products in Canada, from chequing and savings accounts to GIC’s and TFSA’s.