Tag: finance
-
Canada’s Inflation Rate Rises to 2% in October, Lowering Likelihood for Large Rate Cuts
Canada’s inflation rate unexpectedly climbed back to 2.0% in October 2024, driven by a smaller decline in gasoline prices and rising grocery costs. This marks the first increase in the annual inflation rate since May, aligning with the Bank of Canada’s forecasts and curbing market expectations for a significant rate cut next month. The news…
-
What the Latest U.S. Federal Reserve Rate Cut Could Mean for Canadians
With the U.S. Federal Reserve cutting interest rates once again, Canadians may feel some ripple effects across various aspects of the economy. As the Fed’s policies impact the U.S. economy, Canada often experiences a spillover effect due to the close economic ties between the two countries. Here’s how this rate cut might influence Canadians in…
-
Don’t Rule Out a 75-Point Rate Cut: Bank of Canada Set for Big Decision
The Bank of Canada is set to make a major announcement on its overnight interest rate tomorrow, and most economists are predicting a significant cut. While a 50-basis-point reduction is the most likely outcome, some experts suggest that an even bigger cut—75 basis points—could be on the table. Could We See a 75-Basis-Point Cut? Avery…
-
Canadian Inflation Drops to 1.6% in September – A Big Rate Cut Might Be Coming
In September, Canada’s inflation rate dropped to 1.6%, the lowest it’s been since February 2021. This decrease is mainly due to falling gas prices and is raising hopes that the Bank of Canada will cut interest rates to help boost the economy. Many economists are now predicting that at the Bank of Canada’s next meeting…
-
Bank of Canada Lowers Key Interest Rate to 4.5%
The Bank of Canada announced a cut to its key interest rate this morning, reducing it by a quarter percentage point to 4.5%. This marks the second consecutive rate cut as the central bank responds to easing inflationary pressures and a weakening economic outlook. Bank of Canada Governor Tiff Macklem made the announcement during a…
-
Canada now has one of the highest household debt levels in the world
Interest Payments Now Consume Nearly 20% of Income for Some Canadians Canada ranks third globally for household debt among advanced economies, trailing only Switzerland and Australia. This high debt burden impacts Canadians unevenly, with lower-income households bearing the brunt. Impact of Rising Interest Rates A recent study by Fédération des caisses Desjardins du Québec reveals…
-
Why Canada’s #1 Real Estate Podcast is a Must-Listen
If you’re a Canadian real estate investor or aspiring to become one, there’s a podcast you need to tune into—The Canadian Real Estate Investor. Hosted by seasoned experts Daniel Foch and Nick Hill, this podcast has quickly become the go-to resource for anyone looking to navigate the complexities of the Canadian real estate market. About…
-
Bank of Canada cuts key interest rate for the first time in 4 years
The Bank of Canada has reduced its overnight rate by 25 basis points, marking the first rate cut since the onset of the pandemic. This decision, announced on Wednesday, lowers the policy rate from 5% to 4.75%. Background and Context The Bank of Canada began increasing its key interest rate in March 2022 in response…
-
All Eyes on the Bank of Canada: Will They Cut Interest Rates in June?
The Bank of Canada’s upcoming rate-setting announcement on Wednesday is attracting significant attention. While some expect a rate cut, the central bank’s decision could have substantial implications for the economy, especially if they choose to hold rates steady. The Current Economic Landscape The anticipation surrounding this announcement is fueled by the economic context. Since March…
-
Average hourly wage in Canada now $34.95 according to StatsCan
The latest data from Statistics Canada reveals that the average hourly wage in Canada has reached $34.95, as reported on May 10, 2024. This significant figure comes amidst a robust performance in April’s job numbers, prompting economists to reconsider their stance on potential rate cuts. Here’s a closer look at the key highlights: In summary,…
Canada Housing Market 