Although the Bank of Canada just upped the interest rate to 1.5%, a nod to the stabilizing and steady-moving Canadian economic outlook, it is still lower than the inflation rate, which remains at 2.2. Because the gap remains, savers should consider their investments carefully. As the economy slowly gets stronger, it is expected that rates will go even higher. To that end, it’s important for savers to keep investments in short-term investments as the gap between short and long-term yields continues to flatten, and be ready to move when higher rates finally come.

Read more: Personal Investor: Bank of Canada keeps savers on the sidelines