The Bank of Canada today maintained its target for the overnight rate at 2.75%, with the Bank Rate at 3% and the deposit rate at 2.70%. The major shift in direction of US trade policy and the unpredictability of tariffs have increased uncertainty, diminished prospects for economic growth, and raised inflation expectations. Pervasive uncertainty makes […]

Keeping up with rising living costs can be particularly challenging when you’re on a fixed income with limited cash flow. Many Canadians are taking out loans, using multiple credit cards, and delaying significant purchases to stay financially stable in retirement. However, juggling debts from different sources with varying interest rates and payment schedules can be […]

Summer is the time to get outside and enjoy your yard. To help you make the most of your space, I have broken down some of the top yard appeal ideas with the biggest ROI giving you the most bang for your buck and increasing your home’s equity and curb appeal at the same time! […]

BoC Holds Rates Steady Waiting To See Further Declines In Core Inflation. the bank of canada holds rates steady until core inflation falls further Today, the Bank of Canada held the overnight rate at 5% for the fifth consecutive meeting and pledged to continue normalizing the Bank’s balance sheet. Policymakers remain concerned about risks to […]

Nail Down Your Budget Understanding the basics of budgeting and tracking your income versus spending is a fundamental part of financial literacy and control. Building a budget can help you define your spending habits, and determine where there is room for adjustments, and this gives you a chance to review your cash flow situation to […]

Your payment schedule is the frequency that you make mortgage payments and ranges from monthly to bi-monthly, bi-weekly, accelerated bi-weekly or even weekly payments. Below is a quick overview of what each of these payment frequencies mean: Monthly Payments: A monthly payment is simply a single large payment, paid once per month; this is the default […]

The Bank of Canada increased the overnight policy rate by 25 basis points this morning to 5.0%, its highest level since March 2001. Never before has a policy action been so widely expected. Still, the Bank’s detailed outlook in the July Monetary Policy Report (MPR) suggests stronger growth and a longer trajectory to reach the 2% […]

In an Aggressive Move, the BoC Hikes the Policy Rate by 25 BPs. holy smokes, the bank of canada means business If there were any doubt that the Bank of Canada wanted inflation to fall to 2%, it would be obliterated today. In a relatively surprising move, the Bank hiked the overnight policy rate by […]

As expected, the central bank held the overnight rate at 4.5%, ending, for now, the eight consecutive rate increases over the past year. The Bank is also continuing its policy of quantitative tightening. This is the first pause among major central banks. Economic growth ground to a halt in the fourth quarter of 2022, lower […]

When it comes to saving money, there are a lot of little things you can do that add up to make a big difference! Here are 10 of our favourite money-saving tips: Automatic savings are one of the most effective ways to save because you can’t spend what you can’t access! Instruct your employer to […]