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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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Resilient Workforce: U.S. Jobless Claims Dip to 213,000 Amid Stability

 

The latest data from the U.S. Labor Department shows that initial jobless claims fell by 7,000 to 213,000 for the week ending February 8, outperforming economists’ expectations of 215,000. This decline is a positive indicator of a robust labor market, where layoffs remain historically low, despite ongoing economic uncertainties. 

Complementing this data, January’s employment report revealed an increase of 143,000 nonfarm payroll jobs, with the unemployment rate holding steady at 4.0%. These figures suggest that businesses are largely retaining their workforce, a factor that has enabled the Federal Reserve to pause further interest rate cuts as it assesses economic conditions. 

While some sectors are experiencing isolated job cuts amid persistent inflation and cautious corporate strategies, the overall picture points to a stable and resilient labor market. The sustained strength in job retention continues to support economic expansion, even as policymakers and businesses navigate a complex economic landscape.

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