Finance

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British pound drops to an all-new low

The British pound has dropped to an all-time low, following a promise…

 

Falling Canadian dollar coins are pictured in North Vancouver, B.C. Wednesday, May 29, 2019. The Canadian dollar is sliding again a day after the U.S. Federal Reserve raised its key interest rate.THE CANADIAN PRESS/Jonathan Hayward

Canadian dollar slides as investors retreat to U.S. dollars

loonie slipped under 75 cents US earlier this week

 

The Bank of Canada is pictured in Ottawa on Tuesday Sept. 6, 2022. The Bank of Canada is expected to announce it will be raising its key interest rate today, making it the fifth consecutive increase this year. THE CANADIAN PRESS/Sean Kilpatrick

Bank of Canada raises key interest rate by 0.75%, says rates likely need to go higher

Expected lift brings the bank’s key rate target to 3.25 per cent

 

Almost $400,000 is coming into our region for arts and sports organizations through the latest round of Community Gaming Grants. Photo by Mike Davies/Campbell River Mirror

Weston: Why is money so confusing?

Tips on how to get you and your money speaking the same language

Almost $400,000 is coming into our region for arts and sports organizations through the latest round of Community Gaming Grants. Photo by Mike Davies/Campbell River Mirror
FILE - The gas storage plant Reckrod is pictured near Eiterfeld, central Germany, on July 14, 2022, after the Nord Stream 1 pipeline was shut down due to maintenance. The euro has fallen below parity with the dollar, diving to its lowest level in 20 years and ending a one-to-one exchange rate with the U.S. currency. The euro is falling as fears of a recession grow due to Russia restricting natural gas supplies. (AP Photo/Michael Probst)

Euro falls below parity with US dollar, what does it mean?

Who wins and who loses as EEC falls below value of US dollar for first time in two decades

FILE - The gas storage plant Reckrod is pictured near Eiterfeld, central Germany, on July 14, 2022, after the Nord Stream 1 pipeline was shut down due to maintenance. The euro has fallen below parity with the dollar, diving to its lowest level in 20 years and ending a one-to-one exchange rate with the U.S. currency. The euro is falling as fears of a recession grow due to Russia restricting natural gas supplies. (AP Photo/Michael Probst)
A Canadian dollar coin is pictured in North Vancouver, B.C. Wednesday, May 29, 2019. The loonie hit a 20-month low today, one day after the Bank of Canada announced its largest interest rate hike since 1998. THE CANADIAN PRESS/Jonathan Hayward

Bank of Canada rate hike contributes to loonie falling to a 20-month low

Canadian dollar dropped to a low of 75.62 cents US

A Canadian dollar coin is pictured in North Vancouver, B.C. Wednesday, May 29, 2019. The loonie hit a 20-month low today, one day after the Bank of Canada announced its largest interest rate hike since 1998. THE CANADIAN PRESS/Jonathan Hayward
Canadian loonie coins are pictured in Vancouver, Sept. 22, 2011. Money is still considered a taboo topic or private matter, which is why many people avoid sparking up conversations about their personal finances with friends, colleagues and even family. THE CANADIAN PRESS/Jonathan Hayward

Start talking to your kids about money at an early age, experts say

Early money talk will help them develop a healthy relationship with their own finances one day

Canadian loonie coins are pictured in Vancouver, Sept. 22, 2011. Money is still considered a taboo topic or private matter, which is why many people avoid sparking up conversations about their personal finances with friends, colleagues and even family. THE CANADIAN PRESS/Jonathan Hayward
Produce is shown in a grocery store in Toronto. A recent survey says a quarter of Canadians are cutting back on essentials like food, housing and utilities due to rampant inflation. THE CANADIAN PRESS/Nathan Denette

Canadian household budgets stretched thin as inflation, interest rates rise: Survey

MNP poll finds nearly half of respondents are reining in non-essential spending on outings

Produce is shown in a grocery store in Toronto. A recent survey says a quarter of Canadians are cutting back on essentials like food, housing and utilities due to rampant inflation. THE CANADIAN PRESS/Nathan Denette
The Bank of Canada building is seen on Wellington Street in Ottawa, on Tuesday, May 31, 2022. The Bank of Canada will outline what it sees as the key vulnerabilities and risks to Canada’s financial system later this morning. THE CANADIAN PRESS/Justin Tang

Bank of Canada says household debt and home prices key risks for financial system

Households have seen net worth increase of about $230,000 over the first two years of the pandemic

The Bank of Canada building is seen on Wellington Street in Ottawa, on Tuesday, May 31, 2022. The Bank of Canada will outline what it sees as the key vulnerabilities and risks to Canada’s financial system later this morning. THE CANADIAN PRESS/Justin Tang
A woman uses her computer keyboard in North Vancouver, B.C., on December 19, 2012. Canada’s financial intelligence agency is warning that unregistered cash-transfer services are ripe for abuse by criminals trying to launder money and fund terrorist activities.THE CANADIAN PRESS/Jonathan Hayward

Financial intelligence agency highlights criminal risks of underground banking

Many Canadians use money services operating outside conventional banking system to send cash abroad

A woman uses her computer keyboard in North Vancouver, B.C., on December 19, 2012. Canada’s financial intelligence agency is warning that unregistered cash-transfer services are ripe for abuse by criminals trying to launder money and fund terrorist activities.THE CANADIAN PRESS/Jonathan Hayward
Governor of the Bank of Canada, Tiff Macklem, and Senior Deputy Governor Carolyn Rogers appear before the House of Commons Standing Committee on Finance, in Ottawa on Monday, April 25, 2022. THE CANADIAN PRESS/Sean Kilpatrick

Key interest rate could soon go up another half point, central bank says

‘The economy needs higher rates and can handle them’

Governor of the Bank of Canada, Tiff Macklem, and Senior Deputy Governor Carolyn Rogers appear before the House of Commons Standing Committee on Finance, in Ottawa on Monday, April 25, 2022. THE CANADIAN PRESS/Sean Kilpatrick
Liberal Leader Justin Trudeau and NDP Leader Jagmeet Singh take part in the federal election English-language Leaders debate in Gatineau, Que., on Thursday, Sept. 9, 2021. THE CANADIAN PRESS/Adrian Wyld

Federal budget the first important moment for NDP-Liberal pact, says finance critic

NDP looking to see how far Liberals are moving forward on pledges made in the deal

Liberal Leader Justin Trudeau and NDP Leader Jagmeet Singh take part in the federal election English-language Leaders debate in Gatineau, Que., on Thursday, Sept. 9, 2021. THE CANADIAN PRESS/Adrian Wyld
The District of Tofino is celebrating the successful hiring of three new staffers for its Community Children’s Centre. (file photo)

Staff-strapped B.C. town scores childcare workers with free tuition, housing

District of Tofino takes unique approach to address childcare resource crunch

The District of Tofino is celebrating the successful hiring of three new staffers for its Community Children’s Centre. (file photo)
Credit cards are displayed in Montreal, Wednesday, Dec. 12, 2012. If you haven’t shopped for a credit card in a while, you may see some unfamiliar names in the offerings. THE CANADIAN PRESS/Ryan Remiorz

Fintechs looking to break into credit card market dominated by big banks

Startups have to be creative with rewards because they can’t offer the big sign-up bonuses of the big banks

Credit cards are displayed in Montreal, Wednesday, Dec. 12, 2012. If you haven’t shopped for a credit card in a while, you may see some unfamiliar names in the offerings. THE CANADIAN PRESS/Ryan Remiorz
If you want to save money, don’t enter your credit card info as you’re wading through an emotional flood. (pixabay photo)

Millennial Money: Do you want that sweater, or are you sad?

Expert offers tips on how to stop emotional spending

If you want to save money, don’t enter your credit card info as you’re wading through an emotional flood. (pixabay photo)
Chantel Chapman, a financial trauma researcher and educator, poses for a handout photo in Vancouver in August. THE CANADIAN PRESS

Financial stress is taking a physical toll on young Canadians, survey finds

FP Canada: 39 per cent of Canadians polled under 35 say financial stress has led to health issues

Chantel Chapman, a financial trauma researcher and educator, poses for a handout photo in Vancouver in August. THE CANADIAN PRESS
The UBC sign is pictured at the University of British Columbia in Vancouver, Tuesday, Apr. 23, 2019. THE CANADIAN PRESS/Jonathan Hayward

UBC Investment Management Trust invests $120M in reduced carbon investment fund

Assets represent about five per cent of UBC’s endowment

The UBC sign is pictured at the University of British Columbia in Vancouver, Tuesday, Apr. 23, 2019. THE CANADIAN PRESS/Jonathan Hayward
B.C. Investment Management Corporation CEO Gordon Fyfe has led the corporation to achieve positive returns for the province’s civil service pension plan. (Kiernan Green/News Staff)

Record return: Victoria-based company sets new B.C. standard for pension investment

B.C. Investment Management Corporation gained 16.5 per cent in 2020 for civil service pension plan

B.C. Investment Management Corporation CEO Gordon Fyfe has led the corporation to achieve positive returns for the province’s civil service pension plan. (Kiernan Green/News Staff)
Credit cards are displayed in Montreal, Wednesday, Dec. 12, 2012. Equifax says the debt profile of Canadians has changed throughout the pandemic, with mortgages accounting for a larger portion of people’s debt. THE CANADIAN PRESS/Ryan Remiorz

Consumer debt driven by new mortgages, but credit card debt at six-year low

Potential exists that first-time homebuyers are starting to get priced out of the market

Credit cards are displayed in Montreal, Wednesday, Dec. 12, 2012. Equifax says the debt profile of Canadians has changed throughout the pandemic, with mortgages accounting for a larger portion of people’s debt. THE CANADIAN PRESS/Ryan Remiorz
File - In this Wednesday, Nov. 11, 2020 file photo, people walk by an electronic stock board of a securities firm in Tokyo. The global economic rebound from the pandemic has picked up speed but remains uneven across countries and faces multiple headwinds including the lack of vaccines in poorer nations. That could lead to new virus variants and more stop-and-go lockdowns, the Organization for Economic Cooperation and Development, OECD said in its latest forecast. (AP Photo/Koji Sasahara, File)

Forecast: Rebounding global economy faces multiple threats

Lack of vaccines for poorer nations among the larger issues casting a shadow over recovery

File - In this Wednesday, Nov. 11, 2020 file photo, people walk by an electronic stock board of a securities firm in Tokyo. The global economic rebound from the pandemic has picked up speed but remains uneven across countries and faces multiple headwinds including the lack of vaccines in poorer nations. That could lead to new virus variants and more stop-and-go lockdowns, the Organization for Economic Cooperation and Development, OECD said in its latest forecast. (AP Photo/Koji Sasahara, File)