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
Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. Bank of Canada has clear path to 3% interest rate The head of one of Canada’s biggest asset managers says “the conditions are right” for the Bank of Canada to cut its policy interest rate to around three per cent by the end of next year. Business Expectations Index signals budding… Read more
Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. Can a single rate cut make waves in Canada’s housing market? What to know The Bank of Canada’s first interest rate cut in over four years on Wednesday will have a “psychological” impact on the Canadian housing market, but will likely not be enough to meaningfully improve affordability, experts say. Missed applying… Read more
Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. Economists to have a close eye on April inflation report as BoC rate decision nears Forecasters expect this week’s inflation report to show Canada’s inflation rate fell last month, but financial markets are still unsure whether a June interest rate cut is in the cards for the Bank of… Read more
Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. Economic snapshot – Canada – slow growth, but a glimmer of optimism Canada’s soft domestic performance and elevated inflation continue to slow advances. After having the slowest post-pandemic growth of just 1.1.% last year, the country faces another year of below-average growth, caused by indebted households, cautious consumers and… Read more
Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. Tiff Macklem defends Bank of Canada’s two per cent inflation target Bank of Canada Governor Tiff Macklem defended the central bank’s two per cent inflation target as the key benchmark for setting interest rates on Wednesday under questioning from Canadian senators on the standing committee on banking, commerce and the economy in Ottawa. Provincial… Read more
Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. Investing tax refunds is low priority for Canadians amid high cost of living Only one in 10 Canadians plan on investing their tax refund this year as other financial demands take priority, a new CIBC poll found. Canadian dollar could sink to 50 cents a decade from now, says analyst Jean-François… Read more
Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. Canadian Chamber of Commerce Policy experts’ insights on 2024 Federal Budget Policy experts from the Canadian Chamber of Commerce have reviewed the Budget in detail, and their perspective on its implications for Canadian business. Uncertainty in Canada’s tax landscape could weigh on investment James Orlando, the director of economics at TD… Read more
Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. How to protect, improve your credit score amid cost-of-living pressures Last month, the federal government proposed tying rent payments to credit scores, a new way to help Canadians build their credit. Meanwhile, cost-of-living pressures are impacting some people’s ability to pay down debt and keep their scores in good standing. Most Canadians… Read more