Just yesterday, we saw the Bank of Canada increase its overnight rate by 0.25%, making the rate settle at 0.50%. We all expected to see the Bank of Canada do this, seeing as they stated last month that they can increase the rate at anytime starting June 1st, 2010. With this turn of events, Canadian

Homeowners were given a reason to smile as we saw the massive European bailout sent stock markets soaring. Several big banks cut residential mortgage rates, taking out some of the sting from the recent rate hikes. RBC decreased its rates by 10 and 15 basis points, or 0.1% to 0.15% on mortgages ranging from six

Finance ministers of the G20 are unlikely to force Canada and other countries that object to a “Robin Hood” bank tax notes a G20 official. Finance Minister Jim Flaherty had seemed to be heading for a clash with people among the G20 group of developed and emerging economies over the tax. We have Britain, France

Scotiabank has been recognized by Canadians as one of Canada’s most reputable companies and Canada’s most reputable bank. The rankings of Canada’s 50 largest companies in this year’s Canadian Business/ Reputation Institute “Most Reputable Canadian Companies” list were released by Canadian Business Magazine. Scotiabank scored in the top 20 of all companies and was the

Rick Waugh, Scotiabank chief executive noted that Canadian banks could be weakened by the stricter international regulations that could possibly change the way financial institutions handle loans. The new proposed international lending rules threaten the foundation that has strengthened domestic banks in the face of the global credit crisis. Waugh noted that there is a

Scotiabank has increased its stake in a Chinese Bank to 14.8%, with the plans of holding one fifth of the institutions. On Wednesday, Scotiabank noted that it will be investing a total of $162 million to increase its ownership of Xi’an City Commercial Bank (XACB) from its current stake of 1.4% to 20%, the maximum

Canadian Imperial Bank of Commerce (CIBC) will be paying $22 million to settle allegations of wrong doing in connection with asset backed commercial paper. The Ontario Securities Commission orders that CIBC and CIBC World Markets pay the penalty on Monday December 21st, 2009. The province’s stock market regulator has also ordered that HSBC Bank Canada