Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. Canadian dollar ended 2023 on a hot streak but don’t expect the momentum to last The Canadian dollar ended 2023 on something of a hot streak, but will be hard pressed to keep up the momentum in the new year as headwinds gather and fundamentals favour the greenback, currency analysts… 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 will cut three times next year to bring rate to 4.25%, Deloitte predicts The Bank of Canada will likely start cutting interest rates in the second quarter of 2024, predicts the chief economist at Deloitte Canada. Get ready for the ‘great adjustment’ in Canada’s housing market Home prices should climb back… Read more
Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. Canada’s trade surplus grew more than expected in October Canada recorded a larger-than-expected trade surplus of $2.97-billion in October, as exports rose marginally but imports slumped, Statistics Canada said. Bank of Canada says immigration curbs long-term inflation, but has strained housing market Immigration pushed a steady decline in housing… 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 rate decision: What economists expect Economists are expecting the Bank of Canada will hold interest rates at its key policy announcement next week, with some saying they expect the central bank to be done hiking rates. Statistics Canadian survey on business conditions, fourth quarter 2023 Statistics… Read more
Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. No firm commitment to balance the budget: What economists are saying about Ottawa’s fiscal update The federal Liberals unveiled a series of measures aimed at addressing housing affordability in their Nov. 21 fiscal update, but also emphasized the need to keep government finances under control. Here’s what economists are saying about the… Read more
Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. It’s been ‘hard to sell’ in many housing markets across Canada. Here’s why The balance is shifting in Canada’s housing market, with realtors in most major markets saying home sales are slowing from Vancouver to Toronto. For home sellers who missed the signs, the slowdown can come as a… Read more
Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. Over 2 million mortgage holders will face ‘interest rate shock’ in next 2 years: CMHC Canada’s housing agency is warning of a looming “shock” for borrowers renewing their mortgages as a new analysis shows the pain of higher interest rates is starting to put pressure on some homeowners. Canada Mortgage… Read more
Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. Interest rates could stay higher for longer. What that means for your portfolio Higher interest rates have weighed on many Canadian’s portfolios so far this year. Here’s how fresh expectations for the Bank of Canada’s rate path might affect markets. Plateauing Canada’s immigration levels ‘step in the right direction,’… 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 and other forecasters keep misreading the economy Abacus Data conducted a fascinating survey recently of smaller companies for Business Development Bank of Canada’s Small Business Week. Feds post $4.3 billion deficit as high interest rates grow public debt charges The federal government posted a… Read more
Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. Retail sales slowdown shows rate hikes ‘seem to be working’: economist Some experts say retail has always been a tough business, as the sector continues to face the perfect storm of challenges — including high interest rates and supply shortages. Statistics Canada says retail sales fell 0.1 per cent to $66.1… Read more
Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. Canada is in for a cooler winter in real estate as sales slow: CREA Home sales in Canada were down again in September as listings rose, the Canadian Real Estate Association (CREA) said Friday, also lowering its sales and price forecast. Record number of Canadians sour on state of economy as financial woes… 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 warns of inflation ‘feedback loop’ Bank of Canada official Nicolas Vincent has warned there could still be significant hurdles when it comes to getting inflation back to the central bank’s target of two per cent. How interest rates will drive Canada’s housing market in coming months Lower… 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 was flat in July, new GDP numbers from Statistics Canada show Canada’s gross domestic product was essentially unchanged in July, as the service sector expanded slightly while goods-producing industries shrank. Statistics Canada reported Friday that the total value of Canada’s entire economy was essentially unchanged during the… Read more
Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. B.C. port strike affected 17% of retailers with auto sector hit hardest Statistics Canada said the on-and-off strikes at BC ports in July affected 17 per cent of retailers. Sales at motor vehicle and parts dealers were the hardest hit, the agency said. Alberta to debate Canada Pension Plan,… Read more
Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. The unprecedented transfer of wealth and transformation in Canadian family businesses A significant transformation is on the horizon for Canadian family businesses, signalling an era of change and new thinking. With the next decade set to witness the largest capital transfer in Canadian history, today’s decisions will be pivotal… Read more
Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. Canada added 40,000 jobs in August — but it added 100,000 more people, too Canada’s economy added 39,900 jobs last month, about twice as many as expected, but also only about half as many as would be needed to keep up with population growth. Statistics Canada reported Friday that… 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 contracted during 2nd quarter, StatsCan says The Canadian economy appeared to stall in the second quarter as investment in housing continued to fall, led by a drop in new construction. Statistics Canada said Friday the economy contracted at an annualized rate of 0.2 per cent in the second quarter.… Read more
Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. Why America’s election is Canada’s business One could say without exaggeration that Canadians follow American elections just as closely as they do their own federal politics. And rightly so. Our economy and security are fully intertwined with our southern neighbour, a superpower and still the largest economy in the… Read more
Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. Small business owners optimistic despite economic uncertainties A survey of small business owners in Canada found that despite economic uncertainties, a majority of Canadian small business owners and self-employed professionals are confident their businesses will thrive for the remainder of the year. ‘The hard work begins.’ Economists expecting rise… Read more
Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. Economists expect rise in inflation as price-growth fight enters new phase Forecasters anticipate this week’s consumer price index report to show inflation rose last month, signalling a reversal in progress after a year of steady declines in inflation. Air Canada profits soar amid booming demand for international travel —… Read more