The Bank of Canada has offered only the slightest hint about what it plans to do next.  In the statement that accompanied last week’s 50 basis-point increase in the Policy Rate the Bank said it “will be considering whether the policy interest rate needs to rise further to bring supply and demand back into balance […]

With inflation running at generational highs and interest rates on the rise many debt-strapped Canadians are struggling to reorganize their finances. A recent survey sponsored by FP Canada (an organization that represents and promotes professional financial planners) suggests “unconscious spending” can be an obstacle to a sound, workable household budget. Unconscious spending involves purchases that […]

BMO Financial Group posted net income of $4.48 billion in its fourth quarter, a sizeable increase from the same time last year thanks in large part to the one-time gain as a result of its acquisition of Bank of the West. The bank’s fourth-quarter profit rose from $2.16 billion the same time last year, with […]

TD sees earnings boost TD Bank reported earnings of $6.7 billion in the fourth quarter, with adjusted earnings up $4.1 billion – a jump of 5%. That net income came in at $2.18 a share, up from $2.09 a year earlier and surpassing analyst expectations compiled by Refinitiv. On a yearly basis, the bank posted […]

Scotiabank saw its reported net income fall on a yearly basis in the fourth quarter, although overall it closed out the fiscal year up over 2021. The banking giant revealed on Tuesday that it took in $2.09 billion in Q4 compared with $2.56 billion during the same period last year, with its $10.17 billion net […]

The latest Statistics Canada inflation numbers have given some market watchers hope that the Bank of Canada will slow or, perhaps, even pause interest rate increases. The Consumer Price Index, or “headline inflation”, held steady from September to October at 6.9% on a year-over-year basis.  Lower food price inflation off-set higher gasoline prices.  Another welcome […]

The news on the economy, inflation and the future of interest rates has been mixed over the past week or so.  Most of the recent analysis has centered on employment. Market watchers were surprised by the latest job numbers which shot up by 108,000 in October.  The unemployment rate did not move however, holding at […]

The Governing Council of the Bank of Canada raised its target for the overnight policy rate by 50 basis points today to 3.75% and signalled that the policy rate would rise further. The Bank is also continuing its policy of quantitative tightening (QT), reducing its holdings of Government of Canada bonds, which puts additional upward pressure […]

Since interest rates started climbing back in March there has been a lot said about declining home prices in Canada.  Broadly speaking, market watchers have been forecasting a 20% to 25% drop – from the February peak – in the average price by the end of this year. Those are dramatic numbers, but they are […]

Not all insurance products are created equal. One of the most common mistakes homeowners and potential homeowners make is that they hear the word “insurance” and just assume they have it! Well, you might have one kind of insurance, but you might be missing coverage elsewhere. It is important to understand all the different insurance […]