These job losses marked a 2 percentage point increase in the unemployment rate, which now stands at 6.4 per cent. This marks a continued upward trend in unemployment rates over the past year, with 1.4 million Canadians reported as unemployed, according to Statistics Canada’s latest Labour Force Survey. The impact…

Starting in July, the CRA plans to escalate its recovery actions, including legal warnings and measures such as garnishing wages or seizing funds from bank accounts for those who have not responded or cooperated with the authorities. Sylvie Branch, a spokeswoman for the agency, emphasized their commitment to working with…

Despite this trend, cities like Toronto, Vancouver, Montreal, Ottawa, and Calgary remain highly appealing to international workers due to their exceptional quality of life. In Mercer’s ranking, which compares consumer prices across 226 cities worldwide, Canadian cities occupied mid-range positions. Toronto emerged as the most expensive Canadian city at 92nd…

A recent report by TD Economics shows that after navigating through a year of stagnation in 2023, the Canadian economy is showing signs of a potential rebound in the first quarter of this year, with a modest 1.7 per cent annualized growth in real GDP. This improvement follows a robust…

Governor Tiff Macklem emphasised the need for rebuilding trust during a panel discussion at the 2024 Conference of Montreal. Alongside other financial leaders, Macklem addressed the ramifications of high inflation on citizens and the economy, stressing its corrosive impact on market-based systems. Acknowledging the widespread impact of inflation on families…

This move, announced by Bank Governor Tiff Macklem, reflects a shift in the bank’s stance towards inflation and economic recovery. It also offers a glimmer of hope that better times are approaching. Macklem emphasized that the bank’s monetary policy no longer needs to be as restrictive, highlighting the progress made…

The data, which showed a 1.7 per cent annualized growth rate, fell short of both market expectations and the Bank of Canada’s forecast. This sluggish growth was attributed to weak inventory growth offsetting otherwise robust consumption gains. With the Canadian economy expanding at a slower pace than previously anticipated, traders…

The update prompted economists to suggest that the Bank of Canada (BoC) might cut interest rates as early as June. This trend presents a positive outlook for the Canadian economy and supports the possibility of a rate cut this summer. Sal Guatieri, director and senior economist at BMO Capital Markets,…

The numbers heralded a shift toward a more balanced market, with home prices remaining stable and sales down marginally. A stable housing market will also hopefully contribute to a strong and stable economy, although more properties are needed to cope with rising demand. Demand for Canada has seen a surge…

In testimony before MPs, Macklem hinted at the prospect of interest rate cuts as inflation shows signs of abating, signalling a cautious optimism tempered by ongoing uncertainties. Highlighting a downward trend in underlying inflation, Macklem underscored the central bank’s vigilance in monitoring key indicators. With economic growth stagnating and a…