Unveil of Canada’s new vertical $20 bank note

Food and household goods companies in Canada say they’re seeing a surge in demand as Canadians prioritize shopping local amid the ongoing trade war, but they say some retailers are slow to give more shelf space to products from this country. Despite the strain of higher prices at the grocery store, many shoppers are going out of their way to buy Canadian-made products, food, and household goods, companies told The Canadian Press. However, they say some retailers are slow to react

The Bank of Canada has made its much awaited September 2 announcement.At 9:45 a.m. ET, the Bank shared that it will maintaining its overnight rate at 2.25%, with the Bank Rate at 2.5% and the deposit rate at 2.20%.The key policy interest rate has remained unchanged since October 2025, when it came down from 2.50%.In its commentary, the Bank shared that the “continuing conflict” in the Middle East is keeping energy prices high.“As well, new U.S tariffs and Canadian counter-measu

I was in my twenties when I signed a financial client so big that its logo is practically burned into the collective consciousness of global commerce. It was a big deal. I had started my first business, a digital marketing agency, on a whim, and the first few years were hard. Then, slowly, a cascade of big clients came onto the roster, mostly in automotive because that was the industry I knew best. But this client was different. Landing it almost validated everything.So, I bought myself an expen

My first RRIF withdrawal pushed up my taxes more than I expected and I’ve now been hit with quarterly instalment payments from the Canada Revenue Agency (CRA). I’m still working past age 71, like a lot of people these days, either by choice or necessity, on top of the mandatory withdrawal. I am not sure most people are aware of all of the unintended consequences of mandatory RRIF withdrawals.  —JohnHi John. You are right to raise this because registered retirement inc

TD Bank Group is planning to grow its presence in the United States as it moves forward with measures to combat money laundering risks in response to penalties issued by U.S. regulators.The bank announced Thursday it would open 100 new branches south of the border by the end of 2028, subject to regulatory approvals, and is working to “identify additional opportunities” for expansion through 2030.Leo Salom, president and CEO of TD Bank U.S., said customers will be able to visit some o

It can be one of the most expensive items on a student’s back-to-school supplies list — and it just got pricier. The cost of laptops has been on the rise as tech companies around the world rush to build the data centres that power artificial intelligence, pushing up the price of memory chips and other components that go into many devices, like computers. For parents and students navigating this price hike on a tight budget, experts say a little bit of time and research can

Here’s a round-up of news for Canadian investors this week.
ScotiabankBMOEQ BankNational BankRBCTDFeatured RRSP Accountsfeatured EQ Bank Build your retirement savings with 1.50% interest, tax-deferred contributions and zero fees. go to site featured Registered GIC rate Earn a guaranteed 2.75% in your RRSP when you lock in for 1 year. go to siteBest RRSP rates See our ranking of the best RRSP accounts and rates available in Canada. read now
Why trust us
MoneySense is an award-winning magaz

If Canada ever wants to allow entertainment and sports prediction market trading, the country’s securities regulators are signalling someone else should police it. The Canadian Securities Administrators said Thursday that prediction market contracts based on sports and entertainment events should not be regulated within securities and derivatives legislation.Prediction markets currently let customers make wagers of $1 or less on the outcome of real-world events, like what will happen at th

You’ve driven through a flurry of embers to safety. You’ve found high ground as floodwaters rushed in. You’ve dodged the immediate danger to life and limb, and then the financial reality hits. For those forced from their homes due to fire or flood—in many cases with little more than the clothes on their backs—there are few things more daunting than having to

Whether you’re a newer investor or more experienced, there are undoubted benefits to letting out units as a duplex, triplex, or fourplex. Generally speaking, more units means higher returns—assuming the building is large enough to accommodate such a renovation. For homeowners, adding a secondary suite can also help offset mortgage and other housing costs, making a property more affordable to own.Some properties are readymade with multiple units, while others require work to convert t

Does it seem like more people are renting these days? You’re not imagining it. According to the Government of Canada census data from 2001 to 2021, the number of roommate households increased by 54%. Renting can make a lot of financial sense, especially if you’re going to school, trying to pay down debt, or building your savings. But many roommates make the jump to shared living without having critical discussions about how money will be handled. To help roommates get off o

Canada has become one of the top destinations for American physicians looking for a different kind of practice. A more supportive clinical environment. A better quality of life. A healthcare system built around patient care, not prior authorizations.The clinical transition is often the easy part; the financial one is not. For a US physician, moving to Canada isn’t just a change of address—it’s a major cross-border tax event. And the mistakes made in year one can follow you for

The Bank of Canada is gearing up to make an announcement about its overnight rate on September 2, 2026.The last announcement came in July, when the rate was held at 2.25%. It has remained unchanged since October 2025, when it came down from 2.50%.MoneySense spoke to Ratehub’s VP of Mortgage, Jamie David, about what Canadians can expect in September and how they should adapt. What to expect from the Bank of Canada interest rate update:“The Bank of Canada is widely expected to kee

Three types of payments are going out soon, and eligible Canadians should keep an eye on their bank account this week.
Payments under the Canada Pension Plan (CPP) and Old Age Security (OAS), including the Guaranteed Income Supplement (GIS), both go out on the same day: Thursday, August 27. The CPP is followed by the Veteran Disability Pension payment on Friday, August 28.Here’s what you should know about your eligibility and expected amount per the Government of Canada.What is the Canada

Canada’s big banks are expected to deliver another strong performance when they report third-quarter earnings this week, but money managers and analysts are wary that any missteps could mean volatility for their high-flying shares.   Canada’s major lenders have navigated a shifting tariff landscape, weak economic growth, and a sluggish recovery in the housing market so far this year, seemingly with ease. Their resilience has driven their shares higher, upping the ante to im

Most of us haven’t set foot in a bank vault, but many of us still have the instinct: important documents and prized possessions belong somewhere locked away. Yet a safe-deposit box only holds real value if our financial lives are organized enough that someone else could easily step in if something happened to us. David Boldovitch, financial adviser and group benefits broker at Bold Financial, has watched this problem play out with real families, not because they made a bad decision, b

Budgeting for back-to-school shopping can be a daunting task, as parents balance school supply lists with all the other costs of raising children. But financial experts say it can also offer a chance to involve your children in the process and have them see how budgeting can work.Amanda Martin calls back to school the perfect real-world teaching moment for helping your kids make choices about money where they can see how it affects them. “It allows kids to really see the costs, you know, d

Year to date, I’ve watched the Canadian dollar fall as low as roughly US$0.70 in mid-June. It has recovered somewhat as of August, but over the past year, there has still been weakness in the loonie. Part of that can be attributed to the tariff threats coming from the U.S. against Canada, which have created uncertainty around trade and the Canadian economy. But the Canadian dollar’s weakness is not necessarily a reflection of deteriorating domestic fundamentals. Part of the move

High-interest savings accounts come in all shapes and sizes, but not all of them are created equal; some have monthly fees while others don’t. Our list will highlight the best no-fee HISAs in Canada. What is a HISA?A high-interest savings account (HISA) is a deposit account that pays a premium interest rate,  higher than a typical savings account. The interest rates on HISAs range from 1.50% to 4.00% depending on the bank or financial institution. Rates on regular savings account

RBC shared on Friday that there are changes coming to two of its cash back Mastercard options in October and December this year.The announcement comes days after Scotiabank told customers it will lower cash back rates for rent and tax payment in the Scotia Momentum lineup in October, leaving many disappointed. Though a couple of RBC’s upcoming changes may similarly irk cardholders (one of the cards’ annual fee will go up by $21), the benefits are getting a serious facelift that&

Here’s a round-up of news for Canadian investors this week.
Spin MasterSobeysRootsLundinFeatured RRSP Accountsfeatured EQ Bank Build your retirement savings with 1.50% interest, tax-deferred contributions and zero fees. go to site featured Registered GIC rate Earn a guaranteed 2.75% in your RRSP when you lock in for 1 year. go to siteBest RRSP rates See our ranking of the best RRSP accounts and rates available in Canada. read now
Why trust us
MoneySense is an award-winning magazine, helpi

For anyone who follows my writing, you probably know that I spend very little time explaining how financial systems work. I am far more interested in the human and psychological side of money—the part that gets messy when real people must make decisions that don’t always fit the framework.There is no shortage of people explaining the mechanics. There are specialists who can tell you how mortgages are underwritten, how investment portfolios should be structured, and what the technical

At the end of this year, The Wealthy Barber himself, David Chilton, is planning to retire. Ironically, he will do so at the traditional retirement age of 65, which he’ll reach late in October.He revealed this on his popular The Wealthy Barber podcast on June 10, 2026, which you can find here. Later that month, Globe Advisor reporter Deanne Gage devoted a full column to his retirement (paywalled). Chilton announced he plans to “shut down” at th

Scotiabank is changing the way cash back works on Scotia Momentum credit cards, and many aren’t happy about it.The update applies to the Scotia Momentum Visa Infinite+ Card, Scotia Momentum Visa Card, Scotia Momentum Visa No-Fee Card, and Scotia Momentum for Business Card.Scotiabank told MoneySense that, starting October 22, 2026, the earn rate on rent and tax payments will change from the accelerated recurring bill payment earn rate to the regular purchase earn rate.How will Scotia Moment

Families eligible for the Alberta Child and Family Benefit (ACFB) can expect the second-last payment of 2026 to drop on August 27, and it will be a bit bigger than the one before.The ACFB is a provincial program administered by the Canada Revenue Agency (CRA) on behalf of the Government of Alberta. It provides tax-free financial support to low- and middle-income families with children under 18. Eligible families receive payments throughout the year, typically alongside their Canada Child Benefit

When people think about career growth, they often focus on developing technical expertise, improving leadership skills, or expanding their professional network. But there’s another skill that can quietly accelerate your career: financial fluency.Understanding money isn’t just about investing, budgeting, or retirement planning. It’s about understanding how businesses operate, how decisions get made, and how to communicate in a way that resonates with leaders.Whether you’re