Statistics Canada reports that retail sales rose by just 0.1 per cent to $65.9 billion in June. This marginal increase was driven by three sectors. Motor vehicle and parts dealers were the biggest contributors to this gain, having experienced a 2.5 per cent increase in retail sales. New car sales…

Canada’s annual inflation rate has risen to 3.3 per cent in July, up from 2.8 per cent in June, according to Statistics Canada. Although some analysts had predicted that inflation would rise, the results are higher than the anticipated estimate of 3 per cent and pushes the inflation rate beyond…

A study has found that young adults who live and reside outside of the most populous provinces, and in Ontario and Quebec, are feeling the most pressure compared to other age brackets whenever the Bank of Canada announces interest rate hikes. According to the poll conducted by Yahoo and Maru…

The Frasier Institute has found that the top 20% of income earners pay more than half of the total income taxes, refuting the notion by Finance Minister Chrystia Freeland that more needed to be done to ensure high-income earning Canadians pay their fair share. The study titled ‘Measuring Progressivity in…

Canada’s financial regulator, the Office of the Superintendent of Financial Institutions (OSFI), has said that it will be increasing the minimum capital buffer for the country’s major banks. The country’s largest six banks that control the majority of the banking sector include the Royal Bank of Canada (RBC), Canadian Imperial…

Four of the top five Canadian banks have reported lower-than-expected earnings for the second quarter. These results have been driven by higher provisions for bad loans and increased inflation that had driven up costs. Some banks have also been impacted by slow loan growth, particularly in mortgage facilities. National Bank…