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What Canadians Need To Know About The U.S. Fed's Rate Hike

The long-awaited liftoff is here: the U.S. Federal Reserve has announced they are raising the Federal Funds Target Rate to 0.5 per cent. It is the first time in seven years the Fed has increased their trend-setting interest rate, which they cut to 0 per cent on December 16, 2008. Markets had widely anticipated the move, with 81 per cent calling for a hike today. As the U.S. is the largest economy in the world, any change it makes reverberates through the rest of the globe, impacting markets and even the cost of borrowing for other countries.
AP

Relief As Europe Bails Out Greece, Again

THE CANADIAN PRESS -- BRUSSELS - Eurozone leaders agreed to a sweeping deal that will grant Greece a massive new bailout — but likely make it the first euro country to default — and radically reshape...

Canadian Banks Cut Mortgage Rates

TORONTO (CP) -- Canada's biggest banks have lowered their mortgage rates. The Royal Bank, TD Canada Trust, Scotiabank and Bank of Montreal are cutting their house loans by a tenth of a point, effectiv...