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Changes to the BoC rate impacts the prime rate set by Canadian lenders, which in turn affects the pricing of variable-based borrowing products, which are based on the…
Read more Making sense of the Bank of Canada interest rate decision on October 23, 2024 – MoneySenseThe half-percentage point interest rate cut marks the fourth consecutive reduction since June and brings the central bank’s policy interest rate down to 3.75 per cent. With annual…
Read more Bank of Canada delivers half percentage point rate cut – MoneySenseEQ Bank Personal Account If you’re looking for a chequing-style account that you can use daily and use to save while also earning interest, consider EQ Bank’s Personal…
Read more Should you get that promo rate? Check out the fine print first – MoneySenseWhat does the rate cut mean? The immediate impact of today’s rate cut will be interest rate relief for Canadians. As a result of today’s rate cut, most…
Read more Making sense of the Bank of Canada interest rate decision on September 4, 2024 – MoneySenseAll the while, you’ve got a serious case of FOMO every time you check social media—all those friends who are jetting off on lavish vacations, buying new cars…
Read more How much money should I have saved by age 40? – MoneySenseWhat is the Bank of Canada’s interest rate? This latest decrease brings the central bank’s rate—which sets the benchmark for Canada’s prime rate and variable-rate borrowing products—to 4.5%.…
Read more Making sense of the Bank of Canada interest rate decision on July 24, 2024 – MoneySenseWhat is the Wealthsimple Cash card? The Wealthsimple Cash card is a prepaid Mastercard available to anyone with a Wealthsimple Cash account. With this card, you can use…
Read more Wealthsimple Cash review 2024 – MoneySenseThe Canadian federal government eliminated the accumulation of interest on Canada Student Loans, as of April 1, 2023, but you must still pay any interest accrued before then.…
Read more How much money should I have saved by age 25? – MoneySenseThe Office of the Superintendent of Financial Institutions (OSFI) issued a ruling on Oct. 31, 2023, that requires banks taking deposits from ETF issuers to have 100% of…
Read more Will Canadian HISA ETFs survive the new rule change? – MoneySenseSavings versus savings bonds: which is better? To help you decide, let’s take a historical look at the returns of investments and 30-day Canadian Treasury bills, after inflation.…
Read more Is it OK to leave $100,000 in a high-interest savings account? – MoneySenseMany of us are also making sacrifices to afford our vacation plans. Forty one per cent of Canadians cut back on their grocery spending to afford travel, according…
Read more Travel hacks to help you save money on your next trip – MoneySense
