The central bank opted to keep its overnight lending rate—which is used by lenders to set their prime rate and, by extension, variable mortgage rates—at 2.75%. This is the BoC’s second consecutive rate hold, following a rate pause on Apr. 16. Prior to that, the BoC...
We arrived in Canada with optimism, and we thought we were prepared: we had savings, work experience and a support system. But one visit to a car dealership during our first week in the country showed us how little we really knew. In just a...
José Boisjoli’s CV at BRP Under Boisjoli’s tenure, the stand-alone organization, which has known no other CEO, tripled its revenue and market share so that one in every three powersports products sold across the globe bears the BRP logo, according to the Valcourt, Que.-based company. Boisjoli—an engineer...
Some Canadian provinces have a default deductible amount everyone starts at—for instance, it’s $500 in Ontario and $750 in Manitoba—but you can choose to pay less or more, depending on your situation. The amount of deductible you choose impacts the cost of your premiums. Generally, the...
The central bank will be watching the tariff dispute’s impact on inflation as it gauges future policy decisions. When is the next BoC announcement? The Bank of Canada’s next interest rate decision is set for July 30, alongside a new monetary policy report. CIBC chief economist Avery...
Since home equity makes up such a significant allocation of Canadian wealth, it is only natural to wonder how best to use this equity in retirement. Let’s look at three options for retirees: using a home equity line of credit (HELOC), taking out a reverse...
Welcome to the Canadian Crypto Observer. Financial journalist and author Aditya Nain offers perspective on market-moving headlines to help Canadian investors navigate the cryptocurrency market. Could bitcoin continue to rise? On May 22, bitcoin (BTC) reached a new all-time high of $111,681 (all figures in U.S. dollars...
To be defrauded by scammers over the internet is bad enough. But it’s doubly wounding when the scam takes the form of relationship fraud, where a criminal pretends to be a friend, confidant or even a romantic partner. “One of the things that’s uniquely devastating about...
Addressing the House of Commons Thursday morning, Carney said the decision “is consistent with Canada’s long-standing position that the U.S. IEEPA tariffs were unlawful as well as unjustified.” Carney added that Canada’s “trading relationship with the United States is still profoundly and adversely threatened,” ...
A big rally for stocks that began in Asia on Thursday is easing off the accelerator amid uncertainty about what will happen next after a U.S. court blocked many of President Donald Trump’s sweeping tariffs. The S&P 500 was 0.3% higher in afternoon trading after giving up most...