Rate Update

Rate Update

The Bank of Canada dropped its overnight rate down by 0.50% as a response to the global economic slowdown resulting from the Covid-19 crisis   Bank Prime was at 3.95% and will be dropping to 3.45%.For variable rate clients, you can expect to see your rate drop at the beginning of April. Meanwhile, fixed rates are also dropping and we appear to be heading towards another stretch with extraordinarily low fixed rates. There is some speculation from the economists we follow that we could see another rate drop as early as April, as a reaction to the very recent struggles in the oil & gas sector   Some economists project -0.3% GDP for April to June this year, which would put us in a similar...

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Trade Disputes Dampening the Economy

Trade Disputes Dampening the Economy

The ongoing US-China trade dispute will continue to play a major role in dampening the US economy. According to Benjamin Tal’s recent article, more and more studies are debunking Trump’s claim that Chinese companies are bearing the brunt of the tariffs. While in fact,...

Keeping ahead of COVID-19

In the interest of helping to slow the spread of Covid 19 the PMG has decided to close the office to the public. We are still fully operational but will not be seeing clients in person. Thank you for your understanding and please take care of yourselves.