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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 Hits Record High as Fed Chief Signals Rate Cuts

 

Canada’s main stock index surged to a new all-time high on Friday, driven by a broad-based rally. The catalyst? U.S. Federal Reserve Chair Jerome Powell’s endorsement of imminent interest rate cuts.

At 10:41 a.m. ET (14:41 GMT), the S&P/TSX Composite Index reached 22,574.65, surpassing its previous record. Energy and financial sectors led the gains, fueled by optimism that rate cuts could bolster the economy and stave off recession.

This marks a significant milestone for Canadian investors, with the TSX adding 1% for the week, its third consecutive week of gains.

Stay tuned for further updates as the market responds to Powell’s remarks!


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