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
Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. Businesses, consumers more optimistic about economy amid expected rate cuts The Bank of Canada says business and consumer sentiment improved during the first quarter of the year, despite higher interest rates still putting a drag on the economy. The central bank released its business outlook and consumer expectations surveys… Read more
Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. CRA no longer requiring tax return for bare trusts this year Canadians with bare trust arrangements, such as a co-signed mortgage or joint bank account, won’t be required to comply with new tax-reporting requirements for 2023. The Canada Revenue Agency (CRA) said in an announcement Thursday that bare trusts no longer have to… Read more
Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. Drop the mortgage stress test at renewal, competition watchdog urges Ottawa Canada’s competition watchdog is urging Ottawa to drop requirements for some borrowers to pass the mortgage stress test at renewal, arguing it limits Canadians’ abilities to shop around for a better rate. Business insolvency filings highest in years Dina Kovacevic,… Read more
Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. 40% of Canadian industries ‘highly vulnerable’ to supply shocks Forty per cent of Canadian industries are “highly vulnerable” to external demand and supply shocks, Statistics Canada says. The federal statistic agency said on Friday those industries, which account for 25 per cent of Canada’s economic output, are exposed to risks… Read more
Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. A change to Canadian banking is coming… A long-promised revolution in banking is headed to Canada, but you might not notice when it arrives. Change is in the works that will give Canadian consumers and businesses significantly more control over their financial data, including who they share it with, in what’s… 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 grows more than expected, dodging recession Stronger growth supports case for Bank of Canada to hold interest rates steady until June. Canada tax changes to be aware of in 2024 There are a number of new tax measures and reporting requirements Canadians should keep in mind when… Read more
Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. Interest rate cuts would ease housing supply constraint, Fraser suggests Cuts to interest rates in Canada may lead to better housing supply, Housing Minister Sean Fraser suggests. As pandemic bills come due, are Canada’s small businesses in danger? How many mom-and-pop shops on our main streets are destined to disappear in the coming… 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 added 37,000 jobs in January as unemployment declines to 5.7% Canada’s economy added 259,000 jobs in February, surpassing expectations and reducing the unemployment rate to 8.2%, the lowest since March 2020. The gains were primarily in the retail and hospitality sectors, with full-time positions accounting for 80%.… Read more
Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. Interest rates won’t solve housing problems, Macklem says While the Bank of Canada continues to grapple with the high cost of housing in its quest to tamp down inflation, the governor of the central bank is telling lawmakers that monetary policy isn’t going to fix affordability issues in the market. A… Read more
Getting caught up on a week that got away? Here’s your weekly digest of some stories relevant to business and the economy. Interest rates may have peaked – is it time to jump into the housing market? After the Bank of Canada gave its clearest hints yet that its interest rate cycle might have peaked, some real estate experts are expecting hope for lower borrowing costs will set up a busy… Read more
Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. 2024 in charts: Experts predict what’s to come for housing, jobs, wages, interest rates and more Economists, academics, investors and business leaders pick a chart that highlights an issue that will be important to watch in 2024. Bracing for impact: The looming hard landing of Canada’s economy If you’re… Read more
Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. Fixed mortgage rates are on the decline. Is now the time to lock in? Rates on some fixed mortgages have dropped by a full percentage point in the past few months, opening up an opportunity for Canadians eyeing the spring housing market or with a mortgage of their own up for renewal. Canada… Read more