According to a top economist with BMO Capital markets, higher than expected rates of inflation and reports of record breaking sales means that we will be seeing interest rate hikes are likely to follow. However, the domestic strength may not be enough to justify increases if the chaos in the global markets continues. Doug Porter,

TD Canada Trust has changes it mortgage rates, these changes rates have been in effect as of May 21st, 2010. With these recent changes it makes you wonder whether or not we will see the rate hike starting next month, not to mention whether the global financial markets will influence there to be a rate

According to a top economist with RBC Capital Markets, Canadians have to start preparing themselves for a steady hike in interest rate after larger than expected increases in core inflation and consumer prices. According to Statistics Canada’s Consumer Price Index, the central bank’s core index has advanced 1.9% during the past year leading up to

Royal Bank of Canada (RBC) is lowering its rate for its five year mortgages, making this the second reduction for the month. RBC has decreased its five year mortgages by about one-tenth of a percentage point to 5.99%. At the beginning of the month, the five year mortgage rate started at 6.25%, but it was

Bank of Montreal (BMO) is launching a suite of banking products that is specifically aimed to landed immigrants that tries to ease their financial adjustment to Canada. The Newcomers to Canada program includes free banking for the first year, a small safety deposit box for one year, and a bonus rate on Guaranteed Investment Certificates

Visa has announced its partnership with DeviceFidelity, and they will be launching a specially designed iPhone case that will integrate a microSD slot, which will faciliate contactless payment transactions. DeviceFidelity, Inc. announced that availability of its In2Pay solution for the iPhone. This is designed to enable iPhone users make contactless transactions, such as Visa mobile

ScotiaMocatta, the precious metals division of the Scotiabank Group has launched two new products today, during Canada Finance Minister Jim Flaherty’s tour of its Mumbai office. Flaherty took part in a ceremonial ribbon cutting, which commemorates the ScotiaMocatta 10 grams gold round bar and the Scotiabank 141 gram silver round bar. Since 1671, ScotiaMocatta has