Global uncertainty was a big factor in Bank of Canada Governor Mark Carney’s decision. Carney thought it prudent to keep the rate steady amid the sky-high loonie, slow U.S consumer spending, the continued debt crisis in Europe, supply-chain issues from the Japan earthquake and Greece’s possible default.

Economists predict the rate will rise before the year is out, possibly in September.

A low rate carries the risk of rising inflation due to increased consumer borrowing.

An hour after the central bank announced the unchanged interest rate, the loonie went up by more than one cent.

HSBC’s survey of 17, 000 people in 17 countries also revealed that—as we discovered during the recession — paid employment is not a guarantee. For those who are unable to work past the standard (European) retirement age of 62 due to health reasons or a lack of work , it’s important that they have built up savings.

Moreover, more and more countries have started upping the retirement age. Britain, for example, will raise the retirement age, and therefore the age citizens start receiving government pensions, to 68 by 2043.

With baby boomers expected to leave the workforce in increasing numbers every year, and fewer people of working age to support the system, even Europeans can no longer depend on government pensions.  Simultaneously, the prevalence of private-sector defined benefit pension plans is also on the decline.

Moral of the story? Start saving.

But can real estate law compel a seller to disclose the criminal history — however distasteful — of potential neighbours?

According to a recent Ontario ruling sellers could be responsible for disclosing this type of information. And that’s worrisome.

Under real estate law there is a principal known as caveat emptor: buyer beware. It requires sellers to disclose latent (aka: hidden) defects that can render a property unfit for habitation. (Under the same principal sellers are not required to disclose information that a reasonable inspection could detect.)

So, when a young Bracebridge family (with two young children) moved into a home across the street from a man who was convicted of possessing child pornography 10 years earlier they were horrified. What made it worse, from the buyers perspective, is they allege the seller (and in fact the entire neighbourhood) were aware of the man’s past. For this young couple, then, the knowledge of a paedophile living across from their children rendered the home unfit for habitation. And they took the seller to court.

The crux of the problem, then, is whether or not knowledge of a person’s criminal past can be considered a latent defect — a defect not readily observable through a reasonable inspection.

Unlike in the U.S. — where neighbourhoods are notified of convicted sex offenders re-entering society and living in their vicinity — Canadian police and court services are not required to disclose this information. (A quick call to the Greater Toronto Area Police Service confirmed that the only way to obtain this type of information would be through a Freedom of Information Act request.)

According to the court ruling the buyers may now proceed with a trial to determine if caveat emptor applies to their situation. But until that court ruling, all potential home sellers could be held responsible for not disclosing the criminal activities of their neighbours.

Could we end up living in a police state? (And as Sublime put it: the situation is getting grave.)

To get the most out of your suit, Papapetrou advises sticking with a classic tailored fit — not too wide or too tapered — so it won’t look dated a couple of years. If you get the pants and sleeves altered to fit you perfectly after you buy, you can get a custom-tailored look for thousands less. “Fit is key and fabric is secondary,” he says.

Faux savings
Stores like H&M offer cheap, trendy clothing, but you get what you pay for. “It’s more like one-night stand clothing,” says Papapetrou.

$570
If you like urban living, consider moving closer to work and taking public transit, so you don’t have to commute. A couple could save $570 each every month, or almost $140,000 over 10 years, enough to justify moving to a townhouse downtown.

Don’t forget
You can get a tax credit of 15% for weekly, monthly or annual transit passes. Full details are available at transitpass.ca.

Mix business and pleasure
Next time your boss sends you on a business trip, see if you can tack some personal holiday time on at the end. Not only will this save on airfare costs, it also means that the time you spend getting to the destination will be on company time.

Give yourself a raise!
Your company wants to give you free money. All you have to do is fill in the forms.

Join your Company Pension
Defined benefit plans are a sweet deal — you’re guaranteed a set amount when you retire, and in many jurisdictions, the law guarantees that your employer will contribute at least half of the value of the plan. Defined contribution plans, where your retirement payout isn’t guaranteed, can also mean big contributions from your employer. Either way, if you don’t join, you could be leaving more than $100,000 on the table.

Look into Matching contributions
Many companies offer their employees matching RRSP contributions. Typically these programs put in 50 cents or a dollar for every dollar you put in, up to a certain maximum.

Use your Group RRSPs
Even if your company doesn’t match your contributions, investing in RRSPs through your employer can save you big money. “Fees can be around half a percentage point,” says Margot Bai, author of Spend Smarter, Save Bigger. “It’s a deal that you won’t find anywhere else.”

Read the rest of the series here:

Cut your work related expenses
Ten ways to trim your household spending
Six ways to save a bundle on your next getaway
Luxury goods for less
Save money on kids’ expenses
Slash your food costs now
Save $750 a month

You can have a toy swap. Invite moms with same-age kids over, and tell ‘em to bring two or three toys that you can exchange. You’ll arrive home with fresh playthings for the kids, and you won’t have spent a cent.

Clothing swaps are another great way to save money. Whether you’re sharing your grown-up clothes or you’re doing it to get the next size jeans for your Mini-me, swapping means not spending.

You can do at-home bulk cook-ups and then swap the results so you have some new-to-your family meals to try on those busy nights.

You can swap your cleaning skills for some else’s sewing skills.

You can even swap kids. Well, for a few hours anyway so that you each have time to run your errands or head to an appointment without hauling the little monkeys along with you.

Swap coupons. Swap accessories. Swap plants from your garden. Swap books, DVDs, and CDs. Find things you have or that you can do, and swap for things other people have or can do and save. But make sure you don’t forget the “save” part. Whatever you would have spent has to go right to your emergency fund, kids’ educational savings or your retirement savings. Keep track of what your swapping is gaining you in savings and that’ll keep you motivated to keep swapping and saving.

CIBC joined the rest of its big five brethren today to announce the same.

Don’t expect anything lower though, as economists predict that the rate will hold steady — at least for the next several months.

The rates were cut partly because of global economic uncertainty and partly because the Bank of Canada is expected to announce tomorrow that their low interest rate will remain unchanged at 1% until September.

Five-year fixed mortgage rates are now at 5.49% (though it’s not yet posted on the CIBC website).

If you’re a woman and you don’t have a retirement plan you’re in even better company, since men are significantly  more likely to plan for their retirement. Globally, women between ages 50 and 60 are likely to experience the most financial hardships in retirement

HSBC surveyed 1,033 Canadians and about 17, 000 other respondents in 17 countries for their annual “Future of Retirement” study.   The 2011 poll, released today, is called The Power of Planning.

The study also found that Canadians are more anxious about their retirement than other countries. Just under half of global respondents are worried about their finances in retirement, compared with two-thirds of Canadians, who also feel that they haven’t saved enough.

Canadians, nevertheless, are  excited about retiring with 56% of us equating that time in our lives with “freedom”.  Less than 10% of us see it as “the beginning of the end”.