Average net worth held at just over $1 million per household in third quarter, Statistics Canada said. But wealth gap is growing. Read on.
— Read on financialpost.com/wealth/canadian-household-wealth-increases-financial-record-high
Tag: Canada
How to avoid the financial misery that comes with too much mortgage | Financial Post
Burdensome mortgages not only make people house-poor but the stress they cause might just shave years off a borrower’s life. Read more.
— Read on financialpost.com/real-estate/avoid-financial-misery-too-much-mortgage
Why 2026 mortgage renewals could make or break the economy
Tens of thousands of vulnerable households will renew their mortgage in 2026 at significantly higher rates, pushing Canada towards a recession, in a worst case scenario.
— Read on www.thestar.com/business/banks-are-expecting-a-wave-of-mortgage-defaults-economists-say-a-credit-crunch-could-hurt/article_c93e1d80-3ad4-11ef-90ce-bf15e20a8661.html
Live updates: Bank of Canada cuts key interest rate to 4.75% in widely anticipated move – The Globe and Mail
Governor Tiff Macklem and senior deputy governor Carolyn Rogers will hold a news conference at 10:30 am. ET to speak about the decision
— Read on www.theglobeandmail.com/business/article-bank-of-canada-interest-rate-live-june/
Why Canadians are losing patience with public servants | National Post
Polling shows Canadians generally support government employees spending more time in the office.
— Read on nationalpost.com/news/canada/divorced-from-reality-why-canadians-are-losing-patience-with-public-servants
GDP has forecasts mixed on Bank of Canada rate cut | Financial Post
GDP slowed more than expected but economists still divided on when the Bank of Canada will cut interest rates. Read more
— Read on financialpost.com/news/economy/gdp-views-mixed-bank-of-canada-rate-cut
Big Six banks keep putting cash aside for mortgage defaults
Despite challenging economic backdrop, banks report solid Q2 profits this week with five of the six beating analysts’ expectations.
— Read on www.thestar.com/business/big-six-banks-put-millions-more-aside-for-defaults-as-mortgage-payment-shocks-ripple-through/article_5ae55a9a-1e84-11ef-a8a1-d3636b810e89.html
Why the Bank of Canada may hold interest rates again | Financial Post
The Bank of Canada will likely hold interest rates next week and wait for more data on inflation, says economist. Find out more
— Read on financialpost.com/news/bank-of-canada-may-hold-interest-rates-again
Canada could face two more decades of stagnant growth | Financial Post
Canada faces ‘protracted bout of stagflation’ in which the country will suffer low growth and higher inflation, says report. Read on
— Read on financialpost.com/news/canada-faces-two-decades-stagnant-growth-report
Weaker loonie may not deter Bank of Canada diverging from the Fed | Reuters
The Bank of Canada would be willing to cut interest rates three times ahead of the Federal Reserve’s first move before a declining currency threatens to endanger the inflation outlook, the median estimate of seven analysts in a straw poll showed.
— Read on www.reuters.com/business/finance/weaker-loonie-may-not-deter-bank-canada-diverging-fed-2024-05-17/