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The World Cup Promised $3.8 Billion — Here's What Canada Actually Got

       Monday July 13, 2026 FIFA promised Canada a $3.8-billion economic windfall for hosting the 2026 World Cup. Two weeks into play in Toronto, the receipts tell a very different story — and there's a lesson in it for anyone thinking a "big event" boost is coming to their city, their rental property, or their business. The Billion-Dollar Bill Came First Before a single ball was kicked, Canadian taxpayers were already on the hook. According to the Parliamentary Budget Office, governments across the country will spend roughly $1.07 billion hosting the 2026 tournament. Toronto alone budgeted $380 million to host six matches at BMO Field. British Columbia's tab for Vancouver's seven matches at BC Place came in even higher, at about $578 million. Ottawa is chipping in $473 million of that total — including $220 million in direct grants to Toronto and B.C., plus another $145 million earmarked for security costs during the tournament. Net of federal help, Toronto and B...
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Navigating Interest Rate Changes: What Savers, Investors, and Borrowers Need to Know

 Bank of Canada

As the financial landscape shifts, understanding interest rates becomes crucial for anyone managing their money. Let’s explore how these changes impact different groups:

1. Savers: High-Interest Savings Accounts (HISAs)

High-Interest Savings Accounts (HISAs) offer an opportunity for savers to earn more on their deposits. Here are some top HISAs in Canada:

  1. EQ Bank Personal Account: With a 4.00% rate (including a 1.50% bonus for direct deposits), EQ Bank provides a competitive option.
  2. LBC Digital High-Interest Savings Account: Offers a 3.00% rate.
  3. Motive Savvy Savings Account: Boasts a 4.10% rate.
  4. Simplii Financial High Interest Savings Account: A 6.00% rate for the first 5 months.

Remember, HISAs provide liquidity—no penalties for withdrawals—unlike Guaranteed Investment Certificates (GICs). While GIC rates have surged recently, HISAs remain flexible.

2. Investors: Nominal vs. Real Interest Rates

Investors should understand the difference between nominal and real interest rates. Nominal rates represent the cost of borrowing or return on investments, while real rates account for inflation. Consider both when making investment decisions.

3. Borrowers: Impact of Rate Hikes

Higher interest rates benefit savers but can be challenging for borrowers. As the Bank of Canada holds its benchmark rate steady at 5%, consider these implications:

  • Mortgages: Variable-rate mortgage holders may see increased payments.
  • Consumer Loans: Interest costs rise for personal loans and credit cards.
  • Investment Decisions: Evaluate fixed vs. variable rates.

In summary, stay informed, adapt your financial strategy, and make the most of changing interest rates.

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