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...
Are the Porter BMO credit card perks worth it? Touted as the “first and only travel credit card program in Canada that grants immediate frequent flyer benefits,” the cards automatically give users access to Avid Traveller status benefits (an Avid Traveller is anyone who reaches one...
What we do know, however, is the type of fraud reported most often in Canada in 2024: identity fraud. To pull this off, criminals use phishing scams and other ruses to trick Canadians into revealing personal and financial information. Depending on what they find out,...
Holding assets jointly with kids Adding a child’s name to a non-registered investment account seems to be a common, albeit unnecessary, practice. Single seniors or widows often do this on their own or at the behest of their children. One of the benefits is that children can...
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