From mortgages to lines of credit, the rise in the ‘overnight rate’ will hit Canadian consumers. After seven years of leaving its key interest steady or cutting it to near-historic lows, the Bank of Canada has finally increased its overnight rate by 0.25 percentage points to 0.75 per cent. The overnight rate determines the rate at… Read more »
The Bank of Canada’s first interest-rate hike in seven years has set in motion a complex unwinding of a near-decade-long era of easy money. To read the complete article click here.
Summer 2017 update VPI Foreign Equity Pool “Falling prices are the friend of long-term investors. If people don’t feel uncomfortable then I’m probably not doing my job.” Please read the complete interview click here
Stephen Poloz speaks out on interest rate hike The Canadian dollar extended gains and investors ramped up bets of a rate increase as early as next month after Bank of Canada Governor Stephen Poloz reiterated the central bank may be considering higher interest rates. The nation’s currency jumped 0.7 percent to C$1.3103 per U.S. dollar… Read more »
RBC latest bank to get slapped with a multi-million dollar penalty for overcharging clients On Tuesday, Royal Bank was the last of Canada’s five big banks to get slapped with a multi-million dollar penalty for charging customers excess fees for investment products like mutual funds. In some cases clients were unknowingly overcharged for more than… Read more »