Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. What the Bank of Canada’s cut means for the economy The Bank of Canada’s decision to cut its overnight interest rate by 50 basis points was as significant as it was expected. Following on from a shockingly low CPI print, most analysts and investors had priced in this ‘double’ cut.… Read more
Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. After Bank of Canada’s oversized cut, is lower and faster the new pace? The Bank of Canada delivered an oversized interest rate cut of half a percentage point on Wednesday, focusing now on boosting the Canadian economy amid signs inflation is well under control. Shock-prone world’ highlights need for productivity Bank of Canada… Read more
Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. Jobs report tops economists’ expectations in September The Canadian labour market exceeded many economists’ expectations in September, adding more than twice as many jobs as the previous month while unemployment ticked lower. Statistics Canada reported on Friday that the economy added 47,000 jobs in September, while the unemployment rate… Read more
Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. Bank of Canada survey shows business, consumer sentiment remains low The Bank of Canada says business and consumer sentiment remained low during the third quarter of this year, citing high interest rates and higher costs as the main reasons. Economists predict inflation dipped below 2% in September Economists expect inflation continued… Read more
Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. Can T-Swift stop a T-cession? What’s next for Toronto’s flagging economy Toronto’s economic growth slows, prompting fears of recession. Experts cite global uncertainty, trade tensions, and housing market issues. Meanwhile, Taylor Swift’s upcoming concert is expected to boost local economy. U.S. port workers and operators reach deal to suspend… Read more
Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. Economists see Canadian soft landing even without jumbo rate cuts The Bank of Canada will be able to pull off a soft landing for the country’s economy without resorting to half-point interest rate cuts, analysts say. Taking the pulse of Canadian business: 5 of the most interesting things we learned this… Read more
Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. Despite good economic news, experts warn the pain’s not over yet After two years of interest rate hikes, inflation hit the Bank of Canada’s target of two per cent back in August. Touria Izri looks at what helped cool inflation, and the interest rates that economists are calling for.… Read more
Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. Grocery habits may be returning to normal after inflation surge The head of one of Canada’s largest grocery chains says he’s seeing the early signs of consumer behaviour normalizing after years of trading down and cutting back in the cost of living crunch. Canadians should brace for recession because… Read more
Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. Bank of Canada cuts key interest rate again, signals more cuts ahead The Bank of Canada may adjust the pace of interest rate cuts if warranted, governor Tiff Macklem said after announcing a third consecutive interest rate cut. The quarter-percentage-point reduction was widely expected by forecasters, given ongoing softness… Read more
Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. Canadian economy grew in 2nd quarter, mostly from government spending and higher wages The Canadian economy grew 2.1 per cent at an annualized rate in the second quarter of 2024, though GDP per capita fell for the fifth consecutive quarter, Statistics Canada said on Friday. U.S. opens door to possible challenge… Read more
Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. Inflation rate eases, cementing case for Bank of Canada rate cut Canada’s inflation rate is steadily moving back down to the Bank of Canada’s 2-per-cent target, solidifying an already strong case for the central bank to cut interest rates again next month. EI benefit claims are up for working-age… Read more
Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. Should Canada ditch the mortgage stress test? What experts are saying Despite recent interest rate cuts, the Canadian real estate market remained slow this summer. This has prompted some in the industry to call for an end to the stress test – a tool that determines whether a person can… Read more
Welcome to our Weekly Digest – stay in the know with recent news updates relevant to business and the economy. Bank of Canada is now less concerned rate cuts will drive up home prices The Bank of Canada is now less concerned about home prices spiking as it lowers its benchmark interest rate, minutes from the governing council’s latest meeting show. Rent growth across Canada slowest in 2 years, report… Read more
Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. Bank of Canada cuts key interest rate again, more cuts ‘reasonable’ if inflation keeps easing The Bank of Canada cut its key interest rate to 4.5 per cent, with governor Tiff Macklem saying during a news conference that it would be reasonable to expect further rate cuts if inflation… Read more
Welcome to our Weekly Digest – stay in the know with recent news updates relevant to business and the economy. Removing domestic trade barriers could boost productivity, add $200 billion to economy annually The removal of interprovincial trade barriers could improve productivity and add as much as $200 billion to Canada’s economy each year, or $5,100 per person, according to a new report by the Canadian Federation of Independent Business (CFIB). Soft landing still… Read more
Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. Business, consumer sentiment subdued as economy slows The Bank of Canada says business and consumer sentiment remained subdued during the second quarter of the year even as the country saw its first interest rate cut in years. Canadian economy to see modest growth in the second quarter The Canadian… Read more
Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. Renters under pressure: When will the fever break in the hot rental market? Ask the average renter and they can tell you: Canadian rents have soared in recent years. The latest data from Rentals.ca and Urbanation shows the average asking rent for all property types in May rose above $2,200 for the first… Read more
Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. Canada’s GDP grew 0.3% in April, with rebound in some sectors Canada’s economy grew 0.3 per cent in April, helped by strength in several industries, including wholesale trade, oil and gas extraction and manufacturing, Statistics Canada said. The data matched expectations as analysts polled by Reuters had forecast 0.3… Read more
Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. Why the Bank of Canada will wait until September for its next cut Dawn Desjardins, chief economist at Deloitte Canada, talks with Financial Post’s Larysa Harapyn about how the Bank of Canada‘s interest-rate cuts may unfold and how the Canadian economy and housing market will perform this year and next. Canada’s GDP grew 0.3% in April,… Read more
Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. Canada’s economy ‘set to turn a corner’ Canada’s economy appears to be positioned for a rebound after experiencing weakness last year, but consumer spending is expected to be impacted by higher borrowing costs, tighter immigration policy and a softer labour market, according to a report. Trying to time the… Read more