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.
If you think you’re paying higher bank fees these days, you’re not alone – and those fees are going up in the midst of multi-million dollar profits for Canada’s big five banks. Here’s what you need to know.
Things have gotten more competitive for Canada’s big banks, as a growing fintech industry and customer demands give them a run for their money. To encourage loyalty, they’re pulling out new features and customer service tactics. Here are 4 you should keep an eye out for.
Online banking is growing in popularity in Canada – but not all bank websites are created equal. What makes a great online user experience? Tell us and WIN $50!
Some of the new RBC bank fees, which were slated to launch in June, will be reversed, the lender announced today. The bank changed its stance on fees due to intense consumer backlash regarding “pay to pay” charges. Here’s what consumers should know.
Are you ready for the busiest home-buying season of the year? Spring has certainly sprung for the Canadian real estate market, as open houses pop up faster than the crocuses. Perhaps the most telling sign: Bank of Montreal, the big-bank trendsetter, has introduced a “March miracle”: a history-making rate for new mortgage borrowers that has since been matched by TD.