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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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Trudeau Set to Announce Temporary GST Break on Essential Items

 

Prime Minister Justin Trudeau is expected to announce a temporary GST break on essential items, responding to affordability pressures faced by Canadians. This announcement, anticipated on Thursday, comes after demands from the New Democratic Party (NDP) for more substantial and permanent tax relief measures.

NDP Leader Jagmeet Singh has stated that while the temporary GST break is a step in the right direction, it falls short of the permanent relief his party has been advocating for. The GST break is part of a broader multi-billion-dollar package aimed at providing immediate financial relief to families struggling with rising costs.

The temporary suspension of the GST will apply to a range of essential items, including certain grocery products, children’s clothing, and other necessities. This measure is expected to take effect before the holiday season, offering some respite to Canadians during a time of increased financial strain.

The announcement is seen as a strategic move by the Liberal government to address growing public dissatisfaction and to break the legislative gridlock that has recently paralyzed the House of Commons. The NDP has indicated their support for the measure, which could help expedite its passage through Parliament.


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