Nearly two-thirds of respondents expressed concern about running out of money during their retirement years, reflecting a growing anxiety about the rising cost of living. The online survey, which included 4,000 Canadians living outside Quebec, revealed that 61 per cent of participants fear depleting their savings. This apprehension is particularly…

This cut comes as the central bank aims to stimulate a slowing economy. Previous reductions had been more modest, typically at a quarter-point. Governor Tiff Macklem highlighted a “clear consensus” among policymakers regarding the necessity of this larger cut. He noted that recent economic data supported a more aggressive approach,…

A study from the C.D. Howe Institute suggests that the expected increase in federal revenues will fall significantly short of projections, with an estimated C$3.3 billion generated over five years. This figure contrasts sharply with the government’s initial forecast of C$8.8 billion, raising concerns about the fiscal implications of this…

In December, over $2.5 billion will be distributed to approximately 600,000 businesses across the country, providing a welcome financial boost as the economy continues to recover. These payments represent a portion of the carbon price revenue collected from 2019 to 2024, specifically benefiting businesses in regions where the federal fuel…

Analysts suggest this could prompt the central bank to consider more aggressive rate cuts in the near future, which would have widespread implications for borrowing costs and consumer spending. Consensus estimates from major financial institutions, including BMO and Scotiabank, predict a 0.1 per cent increase in GDP for July, slightly…

This marks the slowest growth rate since February 2021 and signals the effectiveness of the Bank’s aggressive interest rate hikes initiated in April 2022 to combat soaring inflation. Following this sustained effort, the central bank made its first rate cut since March 2020 in June, expressing increased confidence that inflation…

The report, authored by William Robson and Mawakina Bafale, underscores the need for significant pro-growth reforms to reverse this trend and improve the nation’s economic outlook. The fall is already adversely affecting productivity and living standards in the country. The report notes a widening gap between investment levels in Canada…

Governor Tiff Macklem announced a 0.25 per centage point decrease, bringing the central bank’s rate down to 4.25 per cent. This decision aligns with broader economic trends, as the Canadian economy has shown signs of softness and inflation continues to ease. The rate cut, while anticipated, highlights the Bank’s strategic…

The average credit card balance in the country has surged to its highest level in 17 years, highlighting a significant increase in consumer debt. In the second quarter of 2024, the average credit card balance climbed to over $4,300, pushing the total outstanding credit card debt to $122 billion—an alarming…

The most recent consumer price index report highlights that reductions in costs for travel, vehicles, and electricity have contributed to this decrease. Despite these improvements, shelter costs remain a significant inflation driver, with higher rents and mortgage payments continuing to exert upward pressure on prices. However, the growth in shelter…