By Staff The Canadian Press Posted June 30, 2023 6:31 am Decrease article font size Increase article font size A pair of significant economic reports are set to be released on Friday morning, signaling potential changes in Canada’s economic landscape. Statistics Canada will unveil its report on the performance of the economy in April through …
The rate of inflation experienced a significant drop last month, raising questions about whether the Bank of Canada will proceed with another interest rate hike in July. According to Statistics Canada, the annual inflation rate for May decreased by one percentage point to 3.4 percent. Economists had anticipated a more modest decline to 3.6 percent. …
The housing market in Canada will not be fully suppressed by the Bank of Canada’s interest rate hikes, according to a new report from Desjardins. The report emphasizes that the housing market rebounded strongly since March, coinciding with the pause in rate increases that ended recently. Although another interest rate increase is expected in July, …
According to a new report published by Royal LePage, a quarter of first-time homebuyers in Canada are relying on financial assistance from sources outside of their immediate families to make their mortgage payments. This trend is attributed to rising home prices and higher interest rates, which make it increasingly difficult for young Canadians to afford …
The Bank of Canada’s recent decision to raise interest rates was based on the unexpectedly strong consumer spending, which is showing no signs of slowing down according to the latest retail data. The central bank’s governing council reviewed economic data and concluded that the previous benchmark rate was not restrictive enough to reach its target …
In May, Canada’s housing market experienced continued growth, but experts believe that the Bank of Canada’s decision to raise interest rates could slow down the rebound. The Canadian Real Estate Association (CREA) reported that sales increased in 70% of local markets last month. Compared to the previous month, sales activity rose by 5.1%, and there …
The decision by the U.S. Federal Reserve to keep interest rates steady while the Bank of Canada raises its rates could have positive implications for the Canadian dollar and the fight against inflation in Canada, according to Benjamin Reitzes, BMO’s managing director of Canadian rates and macro strategist. Reitzes suggests that even a temporary divergence …
The Bank of Canada’s deputy governor, Paul Beaudry, gave a speech to the Greater Victoria Chamber of Commerce, stating that recent economic data suggested an increase in the risk of “sticky inflation.” This was the driving force behind the central bank’s decision to raise interest rates by a quarter of a percentage point, bringing it …