Canadian economy lost 7,200 jobs, unemployment stable at 5.8%

The economy shed 7,200 jobs in March after a pair of strong monthly gains that helped Canada to post its best quarter of job creation since late 2017. Statistics Canada’s labour force survey found the unemployment rate held firm last month at 5.8 per cent. The March decline follows monthly increases of 66,800 net new […]

Posted on: April 6, 2019

Buying a home? CMHC could soon kick in 10% of the cost — for a price

The government is earmarking $1.25B over 3 years for something it’s calling a ‘shared equity mortgage’ Pete Evans · CBC News · Posted: Mar 19, 2019 4:25 PM ET | Last Updated: March 20 The federal budget unveiled on Tuesday includes a plan that could see Canada’s housing agency, the CMHC, pitch in up to 10 per cent of […]

Posted on: March 21, 2019

Banking leak exposes Russian network with link to Prince Charles

Exclusive: investigation reveals how Troika Dialog channelled $4.6bn to Europe and US A charity run by Prince Charles received donations from an offshore company that was used to funnel vast amounts of cash from Russia in a scheme that is under investigation by prosecutors, the Guardian can reveal. Money flowing through the network included cash that can […]

Posted on: March 9, 2019

Canadian economy was resilient in 2018, but troubling signs ahead

The Canadian economy entered 2018 on an unexpectedly impressive run, and will begin 2019 on a healthy note. But signs of weakness have raised a key question: How long before the good times end? Through much of 2018, Canada’s unemployment rate hovered near a 40-year low and job creation remained strong as the evidence pointed to an […]

Posted on: January 21, 2019

IMF cuts forecast for 2019 growth in Canada, world

The International Monetary Fund has cut its forecast for world economic growth this year, citing heightened trade tensions and rising U.S. interest rates. The IMF said Monday that it expects global growth this year of 3.5 per cent, down from 3.7 per cent in 2018 and from the 3.7 per cent it had forecast for […]

Posted on: January 21, 2019

Alberta oil cuts will slow Canadian economy next year, banks predict

Alberta’s decision to order oil production cuts will weigh on Canada’s economy next year, according to some of the country’s biggest lenders. Bank of Montreal economists Benjamin Reitzes and Robert Kavcic predicted in a research note Monday that gross domestic product could expand by 1.8 per cent next year, instead of the 2 per cent […]

Posted on: December 5, 2018

Bank of Canada holds key interest rate at 1.75% as economic outlook dims

Canada’s central bank took a break from raising interest rates on Dec. 5. The pause could last longer than many were expecting, mostly because policy makers are worried that the energy industry’s contribution to economic growth will be “materially weaker” than expected only a couple of months ago. The acute weakness in Canadian oil prices […]

Posted on: December 5, 2018

Mortgage risks fading as Bank of Canada sees dramatic drop in highly indebted borrowers

OTTAWA — The Bank of Canada provided a closer look Wednesday at just how much stricter mortgage rules and higher interest rates have helped slow the entry of new households into the category of “deeply indebted borrowers.” The lofty levels of household debt has been a key concern for the Bank of Canada as it […]

Posted on: November 18, 2018

Canadian economy posts biggest monthly gain in two years

Canada’s economy surged convincingly in May, turning in a better-than-expected rebound from its weather-dampened lull in April. Statistics Canada said Tuesday that real gross domestic product rose 0.5 per cent month-over-month on a seasonally adjusted basis, the biggest one-month gain since July, 2016. The economy bounced back from a tepid 0.1-per-cent gain in April, when […]

Posted on: August 25, 2018

Inflation hits highest level since 2011 in test to Bank of Canada’s rate hike plan

OTTAWA — Canada’s annual inflation rate in July hit its highest level in nearly seven years as gasoline prices and the cost of air transportation pushed prices higher. Statistics Canada said Friday the consumer price index for last month was up 3.0 per cent on a year-over-year basis, compared with a 2.5 per cent increase […]

Posted on: August 19, 2018