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The prime rate refers to the lowest rate of interest at which money may be borrowed commercially – in Canada, it is influenced by the Bank of Canada to “promote the economic and financial welfare of Canada.” The BoC will adjust its targets to keep the economy healthy and affect peoples spending habits. For example,

Nearly everyone has been impacted negatively by the COVID-19 pandemic, and life insurers are no exception. Amidst the uncertainty surrounding the current situation and the decade-low interest rates in Canada, some life insurance companies have begun to raise their premiums. Just like for many individuals, the volatile market is threatening yield and investment losses –

The Pegasus Files Episode 3: Economic management during market recovery from Acart Communications on Vimeo. Click here to tune into this episode of The Pegasus Files, which features Shane Currey as a guest, discussing financial planning and recovery in the midst of the COVID-19 uncertainty.