Canadian Economy Struggles but is Expected to Improve

Canada’s economic slowdown may see a turnaround later this year, according to a recent report from RBC Economics. While the country’s GDP growth has lagged behind population gains, economists suggest that a rebound could be a reality in the not too distant future. This signals that Canadians need to dig…

The Bank of Canada Keeps Interest Rates at 5 Per Cent

The Bank of Canada held interest rates at 5 per cent on Wednesday, meeting almost all expert forecasts. Economists have also forecast that Canadian homeowners may need to wait until the summer at least until the financial pressure eases. However, despite the short term not looking much better, there’s plenty…

Canadian Houses Prices Increase

Despite various downward pressures on the market, the housing sector has shown resilience, suggesting underlying strengths in the Canadian economy. The recent surge in Canadian house prices comes at a time when the global economic landscape is facing uncertainties. In Canada, the economy narrowly avoided a recession, with gross domestic…

The Bank of Canada is Unable to Predict When Interest Rate Cuts Will Happen

Amidst the backdrop of persistent inflation and economic uncertainty, the Bank of Canada finds itself in a precarious position, unable to determine when it will initiate rate cuts. The recent summary of the Bank’s deliberations following its January 24 rate decision sheds light on the complexities facing policymakers as they…

Canadian Housing Market Faces Lowest Annual Sales Since 2008

The total home sales for 2023, amounting to 443,511 units, marked a decline of more than 11 per cent compared to the previous year. This represents the lowest annual level for national sales activity since 2008, according to CREA. Although there was a slight uptick in sales in December 2023…

Canadians Might Have to Wait for Longer Than Expected Before Rates Fall

Canada’s economic landscape continues to grapple with persistent inflation, as Statistics Canada reports an unchanged annual inflation rate of 3.1 per cent for November. This data, consistent with the previous month’s figure, underscores ongoing economic challenges despite hopes for a drop below the three per cent mark, aligning closer with…

Good New as the Bank of Canada Holds Interest Rates

The Bank of Canada on Wednesday 6 December announced it will be holding its interest rate at 5 per cent, which is a positive sign for Canadian mortgage holders. However, challenges will remain as the cost of borrowing stays at high levels for the foreseeable future. Regardless, this news is…

Higher Borrowing Rates Might be Here to Stay

Senior Deputy Governor, has warned that interest rates may remain high for longer than was previously expected, potentially becoming a permanent feature. She added that we might need to brace ourselves for a new era of high-interest rates and even that we might never see pre-pandemic interest levels again. Rogers…