By Craig Lord Global News The Bank of Canada lowered its key interest rate by 25 basis points on Wednesday and opened the door to bigger cuts if the economy slows more sharply in the months ahead. The third consecutive rate cut was widely expected by...
By Fergal McAlinden 20 Aug. 2024 Canada’s annual inflation rate fell to 2.5% in July, its slowest pace for over three years, in a development that likely copper-fastens another Bank of Canada interest rate cut next month. Statistics Canada data on Tuesday morning showed that the headline...
By Fergal McAlinden 25 Jul. 2024 The Bank of Canada lowered interest rates yesterday for the second time in 2024 – and another cut is probably on the way in September, according to Canadian Imperial Bank of Commerce (CIBC) deputy chief economist Benjamin Tal (pictured). The central...
By Fergal McAlinden 01 Aug. 2024 Improving housing affordability was top of the list of priorities for Canada’s federal government in its 2024 budget, unveiled in April – and the administration has moved ahead with a key plank of that platform, the extension of amortization periods...
Story by Amy Legate-Wolfe It finally happened. After four years of waiting and seeing rates climb higher and higher, the Bank of Canada finally cut its benchmark interest rate by 25 basis points this week. This was the first reduction in over four years, bringing the...
By Candyd Mendoza The Bank of Canada (BoC) can cut interest rates independently of the US Federal Reserve, even if the Fed holds rates steady, TD Bank said in its latest economic outlook. According to the bank, the Canadian economy has been growing below its trend rate...
Benjamin Lopez Steven · CBC News 2024 federal budget proposes tax hike for large profits on asset sales The federal government's 2024 budget includes significant new spending on projects and programs — and it's relying on revenue from a change to the capital gains inclusion rate to...
By Kathy Michaels Global News A new crop of housing has popped up on Okanagan real estate pages this spring and area realtors said this will come as a relief to those looking for a new home. New residential listings had an uptick of 34.3 per...
By Fergal McAlinden Prime minister Justin Trudeau has announced a new plan aimed at solving Canada’s generational housing crisis, introducing new tax incentives and proposals to build more housing on public lands to tackle chronic supply and affordability challenges. Flanked by finance minister Chrystia Freeland and housing...
By Fergal McAlinden There were few shocks in the Bank of Canada’s decision last Wednesday to keep interest rates unchanged – but there was a surprise on the same day south of the border as US inflation unexpectedly ticked upwards by more than expected. The core consumer...