With the Bank of Canada gearing up for its final interest rate decision of 2024, experts warn the flagging Canadian dollar could well have further to fall if the central bank delivers the sizeable cut that markets expect. The Bank of Canada is widely expected to lower its benchmark interest rate, currently sitting at 3.75…
A surprise jump in the unemployment rate in November drove the loonie lower on Friday and raised odds among markets and some big banks for a second consecutive oversized interest rate cut from the Bank of Canada. Canadian employers collectively added some 51,000 jobs in November, Statistics Canada said, but the unemployment rate jumped to…
Descrease article font size Increase article font size Finance Minister Chrystia Freeland says she will deliver a fall economic statement sometime this year as the clock ticks down on the remaining days in the House of Commons for 2024. Freeland, who is also the Liberal government’s deputy prime minister, made the pledge in Toronto after…
TD Bank on Thursday warned of a challenging 2025 and suspended its medium-term earnings forecast as Canada’s second-biggest lender works through its anti-money laundering remediation program following a U.S. regulatory probe. Shares of TD, which faces an asset cap and a $3 billion penalty following a probe by U.S. regulators last year into its anti-money…
Canadian real estate watchers are expecting home prices and housing activity to rise in 2025 after a “recovery year,” but the Bank of Canada’s policy rate will still have sway over how quickly buyers come back. Royal LePage released its 2025 housing outlook on Thursday, forecasting the aggregate price of a home in Canada will…
Scotiabank says it expects to see continued loan pressure and political uncertainty in the months ahead as it reported profits that were up from a year ago but below analyst expectations. The bank kicked off a week of bank earnings Tuesday as it reported a fourth-quarter profit of $1.69 billion, up from $1.35 billion in…
It was a packed house at the community hall in Pincher Creek, Alberta on Tuesday as the Alberta Energy Regulator held the first day of hearings over a controversial application to explore for coal in the eastern slopes of the Rocky Mountains. Northback Holdings has applied for three new exploration permits for a coal mine…
The small business loan program the federal government rolled out during the COVID-19 pandemic wasn’t managed with “due regard for value for money,” auditor general Karen Hogan said Monday. The Canada Emergency Business Account program lent 898,000 small businesses $49.1 billion to help cover expenses such as rent and payroll during the pandemic. Hogan said while Export…
By Staff The Canadian Press Posted December 2, 2024 8:16 am 1 min read Descrease article font size Increase article font size The U.S. Postal Service has temporarily suspended accepting mail headed to Canada due to the strike by Canada Post workers. It is asking customers to refrain from mailing items addressed to Canada, until…
Bank of Canada deputy governor Rhys Mendes says allowing for a period of price declines may sound tempting, but it would ultimately be more painful for Canadians. Mendes made the comments in a speech Tuesday in Charlottetown on the importance of keeping inflation at the two per cent target. His speech comes as the Bank…
