Canadian Personal Finance Blog

Archive for October 16th, 2007

Whoo Hoo, no interest rate increases from our Amigos at the Bank of Canada.

Against a backdrop of robust global economic expansion and strong commodity prices, information received since the July Monetary Policy Report Update (MPRU) indicates that the Canadian economy is now operating further above its production potential than had been previously expected. The core rate of inflation, which has been above 2 per cent for the past year, was 2.2 per cent in August. Total consumer price inflation fell temporarily in August to 1.7 per cent, having been above the 2 per cent inflation target since the spring.

Good to know, and good to hear. Strong dollar and low(er) inflation is a good thing, and there is no need to increase interest rates (for now). Next time we will hear from these Monetary Mavens is on December the 4th, stay tuned, but enjoy the lower interest rates for now.

Well in 2002 as a contribution to the GDP, yes Tourism was just as big a contributor to the GDP in Canada as Agriculture was (according to Stats Canada).

Mining was 2.5 times more important than both of them, so keep that in mind as well. This is an interesting number to keep in mind, now that the Canadian dollar is above our American neighbours money, what will that do to this sector of Canada’s economy (tourism that is)? More interesting that the Motor Vehicle manufacture is less than both Tourism and Agriculture? Interesting facts to keep in mind.

Funny, but strange

On the personal finance front, Best Buys has changed who does their credit card, so I went in to re-apply for their card. No, I shouldn’t have, but I wanted one, so let’s get past that part of the story (feel free to flagellate me in the comments section). I got a card for myself and my wife and asked for a relatively small credit limit, or at least I thought so, but the “Instant” credit application was DENIED. What the hey? The young lady then phoned up, and the application was approved (with a higher credit rating).

Yesterday two letters arrived, from HSBC credit (I guess they are now running the Best Buys Credit system), and the first said, we are sorry we cannot give you a card at this time. The second and third envelope included two credit cards with the higher credit limit. Funny? Strange? Worrying? Yes, all of those. I guess I had better do another credit rating check.