As expected, the Bank of Canada left its benchmark rate at 1% in its most recent announcement. However, following the decision, Mark Carney, the Governor of the BOC, made a rather upbeat statement about the Canadian economy — and the possibility of an interest rate hike. While Carney wouldn’t commit to a precise timeline, the [...]
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Canadian Economy Loses Jobs; Are You Ready for an Economic Slowdown?
The Canadian economy, for the third time in the last five months, has shed jobs. While the US economy has been seeing an increase in jobs added to the economy, Canada has been struggling a bit. Indeed, the situation appears to have changed since Canada pulled its economy out of a recession with the help [...]
Could Canada Be Facing Its Own Housing Bubble?
We’ve all seen the devastating effects of the housing market bubble on the US economy. And, for years, we in Canada have kind of looked down on the United States for the loose lending standards and high level of household debt. However, Canadians may not have much to crow about soon. Canadians have surpassed Americans [...]
Planning for the Future: Are You Ready for What’s Next?
Even though Canada’s economy didn’t suffer the same level of setback from the 2008 financial crisis as our neighbour to the south, there are still indications that things are far from perfect in Canada. The difficulties that might be coming to the economy in the future, as well as the prospect of not having enough [...]
Canadians Ready to Give Up Cash in Favour of Convenience
No matter what people continue to tell you, cash has lost its throne. At least in terms of the idea of carrying cash around with you in order to make purchases. These days, it’s all about the plastic — and even the digital money. In fact, many Canadians would feel quite comfortable without ever handling [...]
Eurozone Woes Cross the Atlantic to Sink TSX
Many people look at what’s happening across the Atlantic and wonder why eurozone troubles would bother the rest of the world. While it seems as though Canada should be fine without worrying about the eurozone, though, the global markets don’t work like that. This morning, as the eurozone bailout plan began to fall apart, the [...]
Canadian Business Owners Optimistic, But Wish the Government Would Do More to Help Them
Canadian business owners are reasonably optimistic about what’s next for their businesses — as well as what’s next for Canada’s economy. Sure, there have been some hiccups about what’s happening in housing and with Canadian employment, but business owners don’t seem particularly fussed. At least according to a survey conducted on behalf of the business [...]
When Things Get Crazy, Stick to Your Financial Plan
It’s been a wild, wild week in the financial markets. If you’ve been watching, you know that markets have been unsettled, swinging wildly from losses to gains. All of this craziness has some people making panic decisions, changing the way they do things because of fear. While it might be tempting to follow the crowd [...]
The Government Pays Credit Card Fees, Too
Credit card transaction fees cost everyone. We know this. It costs merchants, and probably contributes, in some fashion, to prices inflation felt by consumers who use credit cards. On top of this, Canadian taxpayers are paying more credit card fees due to the costs to the government. According to the Senate Standing Committee on National [...]
Credit Cards Canada Urges the Goverment to Ditch the Penny
Yesterday we delivered a brief to the Canadian Minister of Finance, Jim Flaherty, expressing our opinion that the penny ought to be abolished here in Canada. In December, the Senate Finance Committee decided to table a report about the penny and its decreasing value. Flaherty himself, according to CTV News, has called the penny a [...]
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