WEALTH Matters — FALL 2012

INTEREST RATE TRENDS

The graph below compares the top GIC rates from over 30 financial institutions for 1 to 5-year terms over the past four years. Rates were virtually unchanged in the 3rd quarter of 2012, except for the 1-year rate which recovered to its March level of 2%. (Source: Cannex Financial Exchanges Ltd.).

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Cash Flow Projections and your financial plan

Interest Rate Trends

Investment Market Commentary

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The Bank of Canada’s Bank Rate has remained steady at 1.25% since September 2010 and the Bank has signaled that it would like to raise the short term rate if inflation shows signs of rising above the 1-3% target range. However, the graph below shows that inflation has been reducing during 2012 and is now near the bottom of the target range. (Source: Bank of Canada)

The Bank of Canada expects economic expansion to remain at 2-2.5% for the next year, and does not expect the economy to near capacity until near the end of 2013, so the likelihood of a rate increase before the second half of 2013 seems unlikely, especially given the slow growth projections for Europe and the US.

Several bond portfolios exist which seek the higher yields available in corporate bonds, or government bonds outside Europe and North America, or Please let us know if you would like more information about these.

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