2012 Smartest Money Move
Filed Under Main Content · Tagged: Financial Markets, Money Move, Motley Fool
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Builder to break ground on Colwood City Centre development
Filed Under Main Content · Tagged: 1 Billion, Break, Centre Development, Colwood, Developer, Financial Markets, Gant, Ground Breaking, Html Builder, Odd Timing, Turmoil
With financial markets in turmoil, it may seem odd timing for a developer to be preparing a site for ground breaking, but Adam Gant says the timing is right for the $1-billion Colwood City Centre development to start coming out of the ground.
Builder to break ground on Colwood City Centre development
Bank of Canada rate bump not necessarily a harbinger of hikes to come
Filed Under Main Content · Tagged: Bank Canada, Bank Montreal, Bank Mortgage, Bank Of Canada, Bank Of Montreal, Canada Economy, Discount Mortgage, European Union, Financial Markets, Global Economy, Harbinger, Interest Rates, Key Mortgage, Mortgage Rate, Percentage Point, Rate Increases, Term Bonds, Turmoil, Uncertainty, Vancouver Sun
Vancouver Sun- On the same day the Bank of Canada bumped its key lending rate up, a major chartered bank edged a key mortgage rate down, moves that reflected the continuing uncertainty in world financial markets.
The Bank of Canada on Tuesday became the first G7 central bank to raise interest rates since July 2008, hiking its key overnight lending rate one-quarter of a percentage point to 0.5 per cent in a long-anticipated move aimed at keeping Canada’s recovering economy from overheating.
However, with uncertainty over the global economy mounting due to turmoil in the European Union, the pressure for future short-term rate increases might be easing.
The turmoil has caused interest rates for longer-term bonds to fall, allowing the Bank of Montreal to trim its five-year discount mortgage rate one-tenth of a percentage point to 4.25 per cent…
Bank of Canada rate bump not necessarily a harbinger of hikes to come
Real estate market to slow sharply, central bank says
Filed Under Main Content · Tagged: A3, Budget Deficit, Confidence, Countries That Use The Euro, Currency, Debt Default, External Assistance, Fears, Financial Markets, Gdp, Globe And Mail, Government Debt, Government Paper, Greece, Gross Domestic Product, Investors Service, Mobilization, Notch, Percentage Points, Sovereign Debt
The Globe and Mail-Europe’s debt troubles are roiling financial markets this morning, but this time going well beyond Greece. Statistics from the EU and Britain are unsettling investors as they paint a picture of widening deficits and heighten fears of debt default. The data drove Greece’s borrowing costs to prohibitive levels as the yield on 10-year government paper spiked to 8.5 per cent.
Greece’s situation worsened later this morning as Moody’s Investors Service cut its rating for the country’s sovereign debt to A3, down one notch, and warned of a further downgrade given the “fractious mobilization of external assistance.” Moody’s said the government must restore confidence. That drove the euro down even further against the U.S. dollar.
The total budget deficit among the 16 countries that use the euro surged to 6.3 per cent of gross domestic product last year, from just 2 per cent in 2008. Not only is that the fattest deficit since the common currency was introduced, it’s well above the EU limit of 3 per cent. Total government debt now stands at almost 80 per cent of GDP, nearly 10 percentage points above where it was a year earlier…
Real estate market to slow sharply, central bank says – The Globe and Mail
