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bank of canada: Canadian Dollar at par with US Dollar - 04/06/10 12:11 PM
It seems like yesterday when the Canadian Dollar was at par with the US Dollar. It took less than 2 years for the exchange rate to equalize again. But what does this mean for the Canadian economy?
Generally, the lower the value of the Canadian dollar, the more Canada was trading. When the dollar was at par in July 2008 it reflected a weakening economy in Canada. But is that still the case? More than ever Canada's economy is strong in comparison to markets with which we are trading.
In terms of trade a strong dollar weakens Canada's selling points, but could a strong … (3 comments)
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bank of canada: National News: Loonie rises to highest level since July 2008 - 03/17/10 08:23 AM
TORONTO -- The Canadian dollar rose to its highest level since July 2008 on Tuesday after the U.S. Federal Reserve held benchmark interest rates near zero, as expected, and renewed its promise to keep them exceptionally low for an extended period.
Building on momentum from firmer oil and equities prices and stronger-than-expected domestic economic data, the Canadian dollar rose as high as $1.0135 to the U.S. dollar, or 98.67 U.S. cents, after the U.S. central bank's decision.
Tuesday's rise marked the resumption of the currency's upward march after pausing on Monday as investors took a break after an 11-day stretch … (0 comments)
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bank of canada: Great article on Gail Vaz-Oxlade - 03/16/10 10:01 AM
Great story today on Gail Vaz-Oxlade. I love her show and I think she is doing wonders to educate Canadians on debt and knowing their financial situation.
GB
Don't just fall into a debt hole
Roma Luciw
From Monday's Globe and Mail Published on Monday, Mar. 15, 2010 12:00AM EDT Last updated on Monday, Mar. 15, 2010 12:26PM EDT
If you want to make Gail Vaz-Oxlade's blood boil, just mention debt.
"People have no idea how much money they are earning or how much money they are spending. They are clueless. I am stunned at their willingness to just fall … (0 comments)
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bank of canada: Bloomberg Update on Canadian Dollar Trades - 03/11/10 08:21 AM
Canada Dollar Trades Near Five-Month High on Growth Outlook
Canada's dollar traded near its strongest level in almost five months as investors bet the nation's economy will be among the strongest during the recovery...
With trade data out tomorrow ahead of Friday's employment data, a lot of players may be in ‘wait and see' mode given much of this dollar-Canada move has been on more bullish Bank of Canada rate expectations," Sacha Tihanyi, a currency strategist at Bank of Nova Scotia in Toronto, wrote in an e-mail. "A very good employment print will push these expectations and help drive dollar-Canada even … (0 comments)
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bank of canada: Choose mortgage words carefully - 03/10/10 09:13 AM
Many consumers fail to understand meaning of terms
By GARRY MARR, Financial PostMarch 10, 2010
When it comes to your mortgage contract, watch your language.
Most consumers only look at their mortgage contract -- one of the most important documents they will ever sign -- just before they are about to close on a house, says Toronto real-estate lawyer Steve Brett.
"It's very rare they come to me [first].
In residential transactions, they usually strike the deal first," he says. "The mortgage commitment comes shortly prior to closing. I'll talk to people over the phone and they'll say, … (2 comments)
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bank of canada: Canada due for "boring is beautiful" budget - 03/02/10 09:51 AM
This year's budget is not expected to be overly exciting and that seems to be a good thing for the current economic state. With all the major changes to the market, including changes to the Mortgage rules, being released ahead of time; or as this article states, "Finance Minister Jim Flaherty and his officials have spent weeks diligently stealing their own thunder"; the resulting budget should surprise few of us.
The expected result is that Canada will fare far better than all other G7 nations, forecasting the lowest GDP deficit.
Link below for more details:
http://www.reuters.com/article/idUSN2611003320100301?type=usDollarRpt
… (0 comments)
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bank of canada: Bank of Canada cuts Interest Rate to 1.00% - 01/20/09 09:04 AM
Bank of Canada cut its overnight lending rate by 0.50% to 1.00%, the lowest since the central bank was formed in 1934. The decrease was inline with most economists expectations.
The previous lowest rate level set by the Bank of Canada was last seen at 1.12% in 1958.
In the past few days leading up to this morning’s announcement by the Bank of Canada, a few lenders began cutting some of their fixed term mortgage rates. It is expected that the various Canadian Banks will announce cuts to their Prime Rate either this afternoon or tomorrow.
Gina Burgio, Mortgage Agent … (3 comments)
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bank of canada: Interest Rate Lowered to 1.50% - 12/09/08 09:14 AM
The Bank of Canada on Tuesday cut its key lending rate by 75 basis points to 1.50%, more than many economists had expected. This is the lowest since 1958.
Lower interest rates, if passed on by the commercial banks, encourage businesses and households to borrow and spend for expansion and consumer goods, thereby stimulating economic activity.
The interest rate cut today by the Bank of Canada was this biggest cut since October 2001.
The record low for Canada's key rate was 1.12 percent in 1958, a time when it was based on treasury yields rather than actions by policy makers.
The … (2 comments)
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bank of canada: Bank of Canada Excepted to Lower Interest Rates - 12/08/08 09:06 PM
Bank of Canada is expected to lower interest rates this Tuesday... many economists are forecasting a half-point chop to their bank rate to 1.75 per cent, the lowest since 1960.
Interbank funding spreads have narrowed by more than half since mid-October. This is making it possible for banks to pass on the central bank rate cut to customers in the form of lower prime rates.
Prime rates are the rates for loans to banks' best corporate borrowers and are the base for lending on everything from mortgages, lines of credit, consumer loans and car loans.
Gina Burgio, Mortgage … (1 comments)
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Gina Burgio
Ancaster,
ON
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