OTTAWA — The Bank of Canada is set to announce its interest rate decision this morning as forecasters widely anticipate the central bank will hold its key lending rate steady. Canada's inflation rate ticked up to 3.3 per cent in July year-over-year, but economists say cracks emerging in the economy will likely sway the central bank against further rate hikes. Statistics Canada reported last week real gross domestic product contracted in the second quarter. Meanwhile, the unemployment rate has be
When it comes to car buying, you've got to take the good news when you can. According to the experts at Kelley Blue Book, the average transaction price for new cars dropped $14 to $48,275 from..."But if the price of saving the economy from entrenched deflation is a weaker renminbi, it is a price worth paying," said economist Shang-Jin Wei.For long-term investing, ZEB is a good bet. If you expect the bank stocks to be depressed in the near term, you can consider ZWB.
Calgary mortgage broker Max Singh says it's like running full tilt, but getting nowhere. A financial morass where you can't get break free."You're not moving forward with your financial picture," said Singh.Singh, who's been in the financial services sector for 20 years and a mortgage broker in Calgary for the past nine, says he's seeing more clients accept longer amortization periods to lower their borrowing costs.Thirty-year terms, even 35.
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