As U.S. Vice-President Kamala Harris and Donald Trump fiercely battle for the White House in the U.S. election, they’ve largely focused their messages on the economy — and Canada is listening closely. More than 90 per cent of voters in a recent Ipsos poll said the economy and their personal economic situation will factor into…
Equifax Inc. is launching a program to allow newcomers to transfer their foreign credit history to Canada. The credit reporting company said Thursday that the Global Consumer Credit File will make it easier for immigrants to access services like loans and cellphone plans in Canada by providing the additional data. “It’s really important when newcomers…
The Bank of Canada delivered an oversized interest rate cut of half a percentage point on Wednesday, focusing now on boosting the Canadian economy amid signs inflation is well under control. The central bank’s policy rate now stands at 3.75 per cent. Wednesday’s decision is the fourth consecutive drop in interest rates since June and…
By Staff The Canadian Press Posted October 22, 2024 7:33 am 1 min read Descrease article font size Increase article font size A new report says many Canadian business leaders are worried about economic uncertainties related to the looming U.S. election. The survey by KPMG in Canada of 735 small- and medium-sized businesses says 87…
After proceeding at a tentative, 25-basis-point cut pace in the first three interest rate cuts of its cycle, many economists expect the Bank of Canada will take an oversized step lower in its upcoming decision on Wednesday. The central bank’s policy rate stands at 4.25 per cent following the most recent quarter-point cut in early…
Pierre Trudeau famously described living next to the United States as “sleeping with an elephant,” a sentiment his son is intimately aware of amid this year’s tumultuous and polarized American election. Prime Minister Justin Trudeau has likely reflected on his father’s words about Canada’s proximity to the U.S.: “one is affected by every twitch and…
Demand for electricity in Ontario is set to soar by 75 per cent in the next couple of decades, far higher than was projected just last year, in part due to a sudden surge in data centres supporting artificial intelligence, the system operator said Wednesday. The demand has been relatively flat for the past 20…
The Canadian Real Estate Association is downgrading its housing market forecast for the remainder of the year again, saying the Bank of Canada’s interest rate cuts haven’t spurred the gradual improvement it previously anticipated. CREA said Tuesday it now thinks the national housing market will remain in “more of a holding pattern” until next spring…
The Canadian economy added some 47,000 jobs in September, enough to lower the unemployment rate for the first time since the start of 2024. Statistics Canada said Friday that job gains were focused in full-time work and in the private sector, offset by losses in part-time roles and public employment. That drove the jobless rate…
Prime Minister Justin Trudeau said Friday that Canada is “ready” for a likely renegotiation of the Canada-United States-Mexico Agreement (CUSMA) after Donald Trump vowed to reopen the free trade deal if he returns to the White House. Trump told the Detroit Economic Club on Thursday that he will invoke the six-year review clause under the…
