Finance

The Bank of Canada is shown in Ottawa on Tuesday, July 12, 2022. THE CANADIAN PRESS/Sean Kilpatrick

Bank of Canada lost $522 million in third quarter, marking first loss in its history

Assets did not keep pace with interest charges on deposits at the bank

 

British Columbia Finance Minister Selina Robinson speaks during the official opening of the Canadian Cancer Society Centre for Cancer Prevention and Support, in Vancouver, on Wednesday, November 10, 2021. THE CANADIAN PRESS/Darryl Dyck

B.C. forecasts surplus of $5.7 billion, but ‘shock rebound’ may not last: minister

Much of the added surplus comes from higher personal and corporate income tax revenue

 

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POLL: Do you support Tofino council’s decision to increase their salaries?

Tofino council approves remuneration increase

  • Nov 20, 2022

 

Tofino’s municipal council is set to receive a raise following the recommendations of a Council Remuneration Advisory Group. (Westerly file photo)

Tofino council moves towards salary increase

Final approval to arrive on new council’s desk at their first meeting on Nov. 8

Tofino’s municipal council is set to receive a raise following the recommendations of a Council Remuneration Advisory Group. (Westerly file photo)
Deputy Prime Minister and Minister of Finance Chrystia Freeland pauses while responding to questions during the second day of a Liberal cabinet retreat, in Vancouver, on Wednesday, September 7, 2022. THE CANADIAN PRESS/Darryl Dyck

As Canada faces potential recession, Freeland to give fall economic statement

Finance minister has already warned not to expect big money to help Canadians cope

Deputy Prime Minister and Minister of Finance Chrystia Freeland pauses while responding to questions during the second day of a Liberal cabinet retreat, in Vancouver, on Wednesday, September 7, 2022. THE CANADIAN PRESS/Darryl Dyck
(Black Press Media Creative)

British pound drops to an all-new low

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

(Black Press Media Creative)
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

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
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

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
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
Tourism Ucluelet has a little more control over its own destiny after a council vote that will have the community’s MRDT funding going directly to the destination marketing organization. (Westerly file photo)

District hands MRDT budget keys over to Tourism Ucluelet

Tourism Ucluelet is now clear to live by its slogan and pursue its wildest dreams more freely

Tourism Ucluelet has a little more control over its own destiny after a council vote that will have the community’s MRDT funding going directly to the destination marketing organization. (Westerly file photo)
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
(Westerly file photo)
(Westerly file photo)
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. (Westerly News file photo)

Tofino tuition offer scores three new hires at Children’s Centre

District takes unique approach to offer education at North Island College

The District of Tofino is celebrating the successful hiring of three new staffers for its Community Children’s Centre. (Westerly News file photo)