Imagine it: You buy a house, and the bank offers you a single rate of interest that will keep your mortgage payments steady for the next 30 years. Pay it off early if you like, by the way: no big penalties to fear.And if interest rates drop sharply, you can refinance that loan to take
The federal government is moving forward with plans to make automatic tax filing more widely available to Canadians, including those who are “middle class.” In the fall economic statement released on Monday, Ottawa announced several measures to make it easier for Canadian taxpayers to file their annual returns, building on efforts that are already underway.“It
The Bank of Canada delivered a second consecutive interest rate cut of half a percentage point on Wednesday, but signalled the pace of easing may slow as uncertainty builds in the Canadian economy. The central bank’s policy rate now stands at 3.25 per cent after the fifth rate cut in a row.The move was widely
With the Bank of Canada gearing up for its final interest rate decision of 2024, experts warn the flagging Canadian dollar could well have further to fall if the central bank delivers the sizeable cut that markets expect. The Bank of Canada is widely expected to lower its benchmark interest rate, currently sitting at 3.75
Descrease article font size Increase article font size Canadian savers now know how much extra room they’ll get in their tax-free savings accounts (TFSA) in the year to come. The TFSA is a savings vehicle that allows Canadians to make contributions and grow investments inside with any withdrawals remaining tax-free.Contribution room starts to grow every
Macy’s on Monday delayed the publication of its third-quarter results due to an accounting issue tied to delivery expenses and instead posted preliminary results in which its sales missed Wall Street expectations. A single employee “intentionally made erroneous accounting accrual entries” to hide about $132 million to $154 million of delivery expenses from the fourth
Locked-out workers at ports in British Columbia were joined on the picket lines by their peers in Montreal on Sunday night, stymying trade at Canada’s two largest marine trading hubs heading into the busy holiday shopping season. While experts tell Motorcycle accident toronto today that consumers will hopefully avoid a Christmas crunch, they also warn that the
Chrystia Freeland says that a unified stance towards China will give Canada a “firm foundation” in upcoming trade negotiations with the United States and president-elect Donald Trump. Deputy Prime Minister and Finance Minister Freeland spoke to reporters Friday after the first meeting of the newly revived cabinet committee on Canada-U.S. relations, which she will again
Experts say Donald Trump’s election victory could shift interest rate policy in the U.S. as his promised policies risk higher inflation, which could ultimately have implications for Canadian rates and the loonie. Among those promises are large tariffs on imported goods, especially from China, as well as lower tax rates and lighter regulation.Trump has promised
The Bank of Canada’s senior deputy governor is warning against adjusting mortgage rules to try to make the prospect of homeownership more affordable. Carolyn Rogers delivered a speech Wednesday on the mortgage market to the Economic Club of Canada in Toronto.“We need to resist the temptation to try to solve the housing affordability challenge by