IN­TER­EST RATES HIKES CUT BOTH WAYS

ZOOMER Magazine - - CARP ADVOCACY -

When the Bank of Canada raised in­ter­est rates to 1.5 per cent in July, it sent a strong mes­sage on the ro­bust­ness of our econ­omy. While higher rates ob­vi­ously mean in­creased bor­row­ing costs (on credit card and home eq­uity loans and mort­gages), they’re ac­tu­ally good news for older Cana­di­ans, many of whom favour fixed­in­come in­vest­ments, such as cor­po­rate bonds, money mar­ket notes, GICs, an­nu­ities, etc.

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