Six Canadian banks have received warning for possible Moody’s Ratings cuts. What is the purpose of this rating system, and how will a cut affect investors and the Canadian economy?
A new Bank of Canada study finds mortgage customers who fail to compare their mortgage rate options end up paying far more than those who do – between $759 to $1,617, to be exact.
Looks like the Bank of Canada has been a tad too optimistic about the government’s willingness to spend – and that recent belt-tightening measures will amount to a 0.2 per cent drag on our country’s GDP growth.
As the state of the global economy remains volatile, it’s increasingly apparent that Canada needs an economic backup plan of its own. Some finance experts have suggested stimulus spending on infrastructure, rather than trimming interest rates will provide us with a monetary crash pad should things spiral out of control on a global scale.
It’s a stark reality: according to a CIBC poll, 59 per cent of Canadians will retire while holding debt. Adapting to a fixed income can make it challenging to manage day-to-day expenses and afford extra debt payments. Here are a few key numbers to consider when planning your retirement.