More bankruptcies may be coming for American companies. Over $100 billion of U.S. corporate debt is trading at distressed levels—something rarely seen in the last decade. Tavi Costa, portfolio manager at Crescat Capital, discusses the issues he sees looming for U.S. firms. …
Sylvain Charlebois: What Does the Latest Interest Rate Hike Mean for Your Wallet?
Commentary The Bank of Canada has once again increased its benchmark interest rate, this time by .25 basis points to five percent, amid growing apprehension from a number of financial experts regarding its potential impact on consumers. And their concerns are not unfounded. Let us examine the evidence. Undoubtedly, food and housing constitute the fundamental…
IN-DEPTH: How Canadians Can Survive Tough Times Amid Rising Interest Rates
Although this week’s announced interest rate hike by the Bank of Canada (BoC) will make things even tougher for Canadians amid rising mortgage rates and tight budgets, there are a number of ways people can ride out this period and manage their finances. “One thing Canadians can do is make a budget plan. Do not…
Bank of Canada Expected to Raise Rates Next Week, Despite Rise in Unemployment Rate
The Canadian labour market is showing some signs of softening as the unemployment rate rises and wage growth slows, but with another solid job gain last month, forecasters are still expecting a rate hike next week. Statistics Canada reported Friday the economy added 60,000 jobs in June, driven by gains in full-time work. But as…
UK Inflation Rate Unchanged at 8.7 Percent in May
The UK’s Consumer Prices Index (CPI) inflation rate stayed at 8.7 percent in May, the same level as in April. Experts had forecast a fall to 8.4 percent, but inflation has proved more stubborn than expected. The inflation figure, which the Office for National Statistics (ONS) said is still at “a historically high level,” is…
More Interest-Rate Hikes Are to Come as Inflation Pressure Still ‘Runs High’: Fed Chair Powell
June 21, 2023
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Federal Reserve chairman Jerome Powell on Wednesday affirmed that more interest-rate hikes are on the way as inflation in the United States is still too high above the central bank’s target of 2 percent. “Nearly all” participants in the policy-making Federal Open Market Committee (FOMC) “expect that it will be appropriate to raise interest rates…
Canada’s Housing Crisis: Inevitable Crash and Economic Turmoil Predicted
Commentary Bank of Montreal economists Doug Porter and Robert Kavcic, in an article titled “Catch-’23: Canada’s Affordability Conundrum,” go into detail about a difficult issue which has been a concern for years, especially in urban and suburban areas. There seems to be no easy way out of this situation despite the assurances of politicians. Single-family…
Canadians Opting for Shorter Mortgage Terms as They Hope for Declining Interest Rates
With mortgage rates at their highest level in more than a decade, home owners and prospective buyers tend to focus on getting the best rate. While shopping around, however, experts say borrowers shouldn’t forget about term length. Samantha Brookes, founder and CEO of Mortgages of Canada, says that before the Bank of Canada started raising…
Whitehall Pledges Support for Bank of England Ahead of Interest Rate Review
The government has pledged support for the Bank of England (BoE) in its mission to curb inflation. Speaking after the publication of the latest GDP figures, Chancellor Jeremy Hunt attributed the 0.2 percent growth to the “underlying resilience in the British economy.” “Of course that’s positive but we still have a big issue with inflation….
What Climbing Interest Rates Mean for Annuities?
Careful scrutiny of your retirement plans requires you to factor in annuities to balance your investment portfolio. Annuities remain reliable investment vehicles to generate a guaranteed income post-retirement. Meticulously planned annuities often replicate monthly paychecks that reflect in the form of salary amidst rising interest rates. Where Will I Start With My Annuities? Well, you…
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