The big Canadian banks - darlings of retirement portfolios for delivering generous and consistent dividends - are losing their income-generating luster to once lowly guaranteed investment certificates (GICs).
The parliamentary budget officer says lower-income households maintained their purchasing power despite high inflation with help from government benefits.
While the pain of elevated interest rates is already hitting those with variable-rate mortgages, the sticker shock of higher payments might not be felt for a couple years among those with fixed-rate plans.
The organization representing chartered professional accountants across Canada said it was blindsided by news that two of its provincial counterparts have decided to part ways with the national body amid disagreements over how best to govern the profession.
Noah Meyer-Delouya, 25, only bought trip cancellation insurance once — and it paid off.
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