The Bank of Canada cut its benchmark interest rate by a quarter of a percentage point on Wednesday as the head of the central bank suggests the rate will need to move even lower to reignite the economy. The Bank of Canada’s policy rate, which broadly informs the cost of borrowing across the country, now
The Bank of Canada is set to deliver its next interest rate decision on Wednesday as many economists and market watchers expect a second consecutive cut in borrowing costs. The central bank’s hotly anticipated decision comes as new polling shows Canadians struggling with debt loads are clamouring for interest rate relief.As of Monday, market odds
Descrease article font size Increase article font size Insurance-focused conglomerate Fairfax Financial on Monday agreed to buy retailer Sleep Country Canada Holdings in a deal valued at C$1.7 billion ($1.24 billion). The offer price of C$35 per share represents a 28 per cent premium to Sleep Country stock’s last close. The company’s shares have risen
With many Canadian homeowners facing a sharp rise in mortgage payments, many of them have decided to bail, resulting in the highest number of Toronto housing units for sale in more than a decade and signaling a big drop in prices in the coming months. In Toronto, a city where two-thirds of the country’s condominiums
Nearly one in three Canadian grandparents providing financial support to younger generations are possibly risking their own retirement, new polling released Wednesday by Royal Bank of Canada suggests. The “grandparents edition” of RBC’s 2024 Family Finances Poll shows that 21 per cent of those surveyed are supporting at least one adult child financially, while 30
Fresh inflation figures showing price pressures rebounded lower last month are boosting odds among economists and market watchers that the Bank of Canada will deliver another interest rate cut next week. Statistics Canada’s consumer price index (CPI) reported an annual inflation rate of 2.7 per cent in June. That follows a surprise uptick to 2.9
Rent growth has stalled overall in recent months in Canada, with some of the country’s most expensive cities seeing annual declines in asking rents while other rental markets continue to see prices soar. The latest rent report from Urbanation and rentals.ca for June shows the average asking rents across all property types fell 0.8 per
Ask the average renter and they can tell you: Canadian rents have soared in recent years. The latest data from Rentals.ca and Urbanation shows the average asking rent for all property types in May rose above $2,200 for the first time. That’s up 9.3 per cent year over year, the same jump seen the month
A new forecast from Deloitte Canada calls for the pace of interest rate cuts to pick up in 2025, but not enough for many Canadian homeowners to avoid feeling the pinch of upcoming mortgage renewals. Deloitte Canada released a new economic outlook on Wednesday that calls for overall real gross domestic product (GDP) growth of
Descrease article font size Increase article font size More Canadians are getting help from family to buy their first home — and they’re getting substantially more money to do it than a few years ago, according to new research published by CIBC. “Homebuyers relying on a wealth transfer from their parents in order to purchase