Business

First and foremost, I hope you and your families are safe and well. The last few weeks have been unprecedented for all of us, to say the least, but the good thing is that we will get through this together soon.   If you are experiencing financial hardship, you can request from your lending institution to defer the equivalent of up to six monthly payments. Please note that by deferring mortgage...

Canada’s big six banks will allow mortgage payment deferrals for up to six months as part of extraordinary measures to help customers struggling with the financial impacts of the novel coronavirus pandemic. In a tweet on Wednesday morning, Neil Parmenter, president of the Canadian Bankers Association, said the measures are “effective immediately.” RBC, TD, BMO, Scotiabank, CIBC and National...

The Bank of Canada will have to slash its key interest rate by another three-quarter of a percentage point in its next rate decision in mid-April, Bank of Montreal says, as plunging oil prices and mounting coronavirus fears prompt economists to rewrite their economic and rate...

OTTAWA -- The Bank of Canada slashed its key interest rate target by half a percentage point, dropping it to 1.25 per cent in what economists saw as a rapid response to the growing economic shock from the novel coronavirus outbreak. The central bank said Wednesday that it cut its target for the overnight rate because COVID-19, as the virus is named, was "a material negative shock" to Canada's already...

The Bank of Canada resisted pressure from investors by declining to signal it will soon follow global peers in easing monetary policy. At a decision Wednesday, policy makers left interest rates unchanged for a seventh straight meeting and said stronger than expected growth, as well as inflation on target, means current levels of stimulus are where they should be. That’s despite the escalating trade...