Where’s the tip?

A weekly roundup of news and views on money, markets, the economy and more

Earls is testing a no-tipping policy. At its new Calgary prototype restaurant, the Vancouver-based restaurant chain will add a 16-per-cent gratuity which will be divided among all hourly staff, not just servers, to promote teamwork and engagement. (Financial Post)

The Bank of Canada is keeping the overnight interest rate at 0.5 per cent. Due to disappointing export figures, weaker business investment both at home and in the United States and global uncertainty in the wake of Brexit, bank officials don’t expect growth to improve until late 2017. (Globe and Mail)

Not everyone loves low interest rates. Years of low rates are putting pressure on Canadian pension funds and highlight the need for tougher regulations, says a pension advocacy group. (CBC)

Low interest rates also affect investors. Some are paying high prices relative to earnings for stocks that seem to provide some certainty, and yields on government bonds are low. In Japan and Europe, markets are so nervous that yields on many government bonds now are slightly negative—which means bond owners actually pay the government to hold their money. (L.A. Times)

Gold and silver still shine. Analysts expect gold and silver prices to move higher, but just as important, they think valuation multiples across the sector are poised to increase. They noted that valuations appear “stretched,” but that the current environment of negative global interest rates is a “unique” one that justifies higher multiples. (Financial Post)