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Bank of Canada cuts 2015 growth outlook, holds key rate

The Globe and Mail
The Bank of Canada announced it is keeping the key overnight lending rate the same and expects Newfoundland, Alberta and Saskatchewan to feel the brunt of the drop in oil prices.

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Today, the Bank of Canada announced it would not change the key overnight lending rate. This is good news for anyone fearful of what increasing interest rates would do to their budget.

The bad news for us here in Newfoundland and Labrador is that the Bank expects the full impact of the drop in oil prices will be felt in Newfoundland, Alberta and Saskatchewan – with other provinces feeling almost no effect.

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Did You Know?

1

Many people who file for bankruptcy get to stay in their home.

2

In Newfoundland and Labrador, you can keep your RRSPs – even if you file for bankruptcy.

3

Many people who file for bankruptcy are able to keep their vehicle.

4

Most bankruptcies are NOT published in the newspaper.

5

Student loans can be included in a bankruptcy if they are more than seven (7) years old.

6

A consumer proposal is an alternative to bankruptcy that can only be filed with a licensed trustee in bankruptcy.

7

In NL, people ages 30 to 39 years old file for bankruptcy more than any other age group. [source]