Stop me if you’ve heard this before, but yesterday the Bank of Canada left their interest rates unchanged for the 7th consecutive time. This is of interest to DIY investors only because it drives the kinds of rates you can expect from high-interest savings accounts and the like. I’ve updated the page that tracks some HISAs and cash-like ETFs over here.
The overnight rate remains at 2.25%. The rate announcement for the Bank of Canada happens on October 28th.
I’ve been making monthly posts about the current interest rates available via “Series F” High Interest Savings Accounts (HISAs) and HISA-like ETFs for a while now. These are an excellent place to park your money. My current broker, Questrade, gives me access to HISAs, but they are not free to trade, hence of zero interest1 to me — I use HISA-like ETFs instead, some options I uncovered earlier this year are discussed over here.
Anyway, I’ve decided to make things a bit easier and make the HISA table a permanent fixture at the Money Engineer. You can always find the most recent version of the table over here: https://moneyengineer.ca/hisa-and-short-term-bond-table-canada-us/, so feel free to bookmark it. (It’s a submenu of the DIY Investors menu found under All Readers.) I’ll generally make updates to it any time the interest rates change in Canada or the US, which they did last week.
If ever I’ve missed an update, or you see a problem, always happy to hear from you — just shoot me a note.
