Hanna Shevchenko, PFP - FP Investment & Retirement Planner, RBC

Bank of Canada policy update: BoC hits pause despite escalating tariffs.

Bank of Canada policy update - RBC Thought Leadership The Bank of Canada held the overnight rate unchanged for the first time since commencing the easing cycle last June.

Canada has been hit with its largest trade shock in nearly 100 years. RBC Economics now finds itself balancing the desire to produce a clear analysis with the recognition that the evolution of trade policies, and policymakers’ responses to them, still remains highly uncertain. Still, we now have a growing list of “knowns” compared to a week ago, allowing us to analyze this shock with greater confidence:

A U.S.-Canada trade shock now in play: first economic takeaways - RBC Thought Leadership Canada has been hit with its largest trade shock in nearly 100 years.

It is clear that as we move forward, RBC's priority remains supporting our clients and communities during challenging times. With our strong financial foundation and expertise, we're well prepared to guide clients through economic uncertainty.

Dave McKay on LinkedIn: I’m sure you have been following the news of President Trump’s… | 287 comments I’m sure you have been following the news of President Trump’s unprecedented decision to impose tariffs on key trading partners, and I wanted to post the response I shared with RBC employees today. Many are feeling upset and disappointed that the long-standing and successful economic partnership...

As the threat of tariffs loom over Canada, and households, businesses and policymakers manage through this next chapter, they will need more than a simplified round number to understand how the economy will evolve. They will collectively need a playbook on how tariffs filter through the economy, over what timelines and through what channels. Here is a framework that will guide economists—and everyone else—through the complicated path ahead.

A playbook for how to measure a tariff shock in Canada - RBC Thought Leadership As the threat of tariffs loom over Canada, here is a framework that will guide economists—and everyone else—through the complicated path ahead.

With the release of the 2024 Fall Economic Statement, this summary article outlines some of the tax and support measures that may affect Canadians.

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Is your mortgage coming up for renewal? Now is a great time to review your financial goals and your plans for the future. There’s much more to consider in addition to the term and interest rates.
Find out what to expect as you approach your maturity date and explore your renewal options.

Mortgage Renewal Tips and Advice Whether you're renewing your RBC Royal Bank mortgage for the first time or the last time, we're here to help you save money with the right mortgage options for your current and future needs.

Canada’s housing markets see a mixed finish to 2024

Canada’s housing markets see a mixed finish to 2024 - RBC Thought Leadership The fall’s strong market rally lost a lot of steam in some of Canada’s major housing markets as resale transactions fell markedly in Calgary and Toronto between November and December, according to local real estate boards.

Canada’s housing market recovery hits a bump but expected stay on track

thoughtleadership.rbc.com

Navigating 2025: Looking better and unsettling all at once:

Navigating 2025: Looking better and unsettling all at once - RBC Thought Leadership Taming inflation was a major victory in 2024. We will start to see the benefits this year as additional interest rate cuts from the Bank of Canada trickle through the economy.

RRSP Contribution Deadline Alert!

The deadline to contribute to your RRSP for the 2024 tax year is March 3, 2025. Don't miss the chance to:
1. Lower your Income Tax: RRSP contributions reduce your taxable income.
2. Grow Your Wealth: Investments grow tax-deferred.
3. Plan for Retirement: Secure your financial future.

Make sure to always check your CRA account or 2023 Notice of Assessment to confirm your RRSP contribution limit for the year. Knowing your limit helps you avoid overcontributing and ensures you are maximizing your savings.

If you are married or in a common-law partnership, explore the benefits of a spousal RRSP to take advantage of income-splitting opportunities and save even more for retirement.

Start now and set yourself up for a stress-free tax season!

5 Ways to Make the Most of Your TFSA in 2025

The TFSA is one of the most powerful tools to grow your wealth tax-free. Here's how to maximize its potential this year:
1. Contribute Early: The 2025 contribution limit is $7,000 - the sooner you invest, the longer your money grows tax-free.
2. Catch Up on Unused Room: Haven't maxed out your TFSA? You may have up to $102,000 in total room (if you have been eligible for a TFSA since 2009 and have never contributed). Always verify your TFSA room with CRA between the end of February and December.
3. Invest Strategically: Use your TFSA for high-growth investments with longer time horizon to take full advantage of the tax-free growth.
4. Reinvest Withdrawals: Withdrawals are tax-free, but remember that you can recontribute the withdrawn amount starting the next calendar year.
5. Save for Big Goals: Whether it's retirement, a vacation, or a rainy-day fund, your TFSA is flexible enough for any savings goal.

Start maximizing your TFSA today and let your wealth grow tax-free!

Maximize your Savings in 2025 with your TFSA!

The Tax-Free Savings Account (TFSA) is one of the most powerful tools to growth your wealth. Here's why:
1. Tax-Free Growth: Your investments grow without being taxed.
2. Flexibility: Withdraw funds anytime without penalties.
3. Contribution Room Carries Forward: Haven't maxed out yet? You can catch up!

Good news for 2025: The new annual contribution limit is $7,000, bringing the total room (if you have never contributed and were eligible to have a TFSA since 2009) to $102,000. It is always best to check your TFSA room with CRA between the end of February to December.

Start early, invest wisely, and let your money work harder for you.