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Where to Find the Best Savings and GIC Rates in Canada This Week

Canadians looking to stretch their savings a little further still have access to competitive high‑interest savings accounts (HISAs) and guaranteed investment certificates (GICs). Digital banks continue to lead the way, offering strong returns without sacrificing security. Here’s a quick snapshot of the top rates available this week. Highest High‑Interest Savings Account Rates Several online‑only institutions are offering some of the most attractive HISA rates right now: Saven Financial – 2.85% Oaken Financial – 2.80% EQ Bank – 2.75% Bridgewater Bank – 2.70% WealthONE Bank – 2.60% These accounts are typically insured either federally or provincially, giving savers both flexibility and peace of mind. Best GIC Rates This Week For those comfortable locking in their money for a set period, GICs continue to provide reliable, guaranteed returns. 1‑Year GIC Leaders Oaken Financial – 3.40% 5‑Year GIC Leaders EQ Bank – 3.85% Longer‑term GICs remain especially appealing for ...
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TSX gains on rate cut hopes despite high inflation`

 


Canada’s main stock index, the Toronto Stock Exchange’s S&P/TSX composite index, rose by 0.75% to 20,777.19 on Tuesday despite a sticky domestic inflation reading.

The materials sector, which houses Canada’s major mining firms, gained 1.3% with copper miners amongst the top gainers on the benchmark index as prices of the red metal rose. Consumer staple was amongst the leading sectors, rising 1.2%, while utilities advanced 0.8%.

San Francisco Fed President Mary Daly said cuts to the U.S. central bank’s benchmark rate are likely to be appropriate next year, the Wall Street Journal reported. Fed Atlanta President Raphael Bostic and Fed Chicago President Austan Goolsbee are also scheduled to speak later in the day.

Meanwhile, the loonie strengthened 0.5% against the dollar after data showed Canada’s annual inflation rate unexpectedly remained at 3.1% in November. The renewed acceleration in core inflation pressures in November was partly due to a jump in travel tour prices, which is likely to be reversed in December.

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