Two Premiers Urge Bank of Canada to Halt Interest Rate Hikes Ontario Premier Doug Ford and British Columbia Premier David Eby have both sent letters to Bank of Canada Governor Tiff Macklem, urging the central bank to halt interest rate hikes leading up to its next rate decision on Wednesday. Premier Ford expressed concern over …
This year in Canada, the month of September holds significance for two reasons. First, there is mounting pressure on the Toronto Blue Jays as they strive to secure a wild card spot for the MLB postseason. Second, economists are analyzing data to update their forecasts on the potential decline in the economy. According to Statistics …
According to a recent poll conducted by Leger, it appears that almost half of the Canadian population is struggling to make ends meet, as the cost of living crisis continues to impact households. It is particularly concerning that young people are more likely to report poor financial conditions. Interestingly, the poll also suggests that the …
Canadian consumers are currently facing increasing financial pressure due to higher interest rates, and this is affecting the country’s largest lenders. However, there are steps that borrowers and banks themselves can take to mitigate the impact. The latest bank earnings have shown that a slowing economy is causing profit dips and higher provisions for possible …
As interest rates continue to rise, many individual buyers are being priced out of Canada’s housing market. In response to this, brokerage firm Royal LePage has released a report indicating that Canadians are increasingly turning to family and friends to afford a home. The report, based on an online survey conducted by Leger in August, …
Canadian millennials, especially those who own homes, are facing a challenging future as interest rates rise, according to a new report from RBC. The report highlights that rising interest rates will have a significant impact on millennials and younger Generation X adults, making them more susceptible to job losses if the economy slows down. RBC …
Economists are warning that the recent surge in the annual rate of inflation could be a cause for concern at the Bank of Canada. According to Statistics Canada, annual inflation rose to 3.3% nationally in July, exceeding the central bank’s target range of one to three percent. This is up from June’s inflation rate of …
Experts predict that the Bank of Canada will rely on a significant economic slowdown this fall to prevent inflation from rising further. The central bank has made progress in reducing headline inflation, with economists estimating that the consumer price index report from Statistics Canada will show a 2.9% annual inflation rate, down from 8.1% last …
Written By Staff Source: The Canadian Press Posted on July 28, 2023 at 6:31 am Decrease article font size Increase article font size Statistics Canada is preparing to release its latest economic report for May, along with a preliminary overview of the second quarter. The early estimate from the federal agency shows a 0.4% growth …
As the Bank of Canada raises interest rates, borrowers are feeling the pinch. Traditionally, higher interest rates are expected to result in better savings rates. However, experts say that the relationship between borrowing costs and savings rates is not always straightforward. Consumers must be nimble and proactive to take advantage of competition in the banking …