Bank of Canada has reconfirmed that there would be 3 more meetings this year to set the interest rates. The meetings would take place on September 07, October 26 and December 07. There would be no meeting in November. Bank of Canada has signaled that there would be more rate hikes till the inflation rate becomes around 3.5%.

Bank of Canada Governor reaffirmed that there is a 6% inflation in this quarter and that he is taking precautionary actions to slow it down. He also said that the inflation hits everyone specially those who has low income. Every house hold however is paying more that they had been paying before the pandemic hit. The hike in the interest …

After spending C$ 95,000,000,000 Canada Wage Subsidy (CEWS) and Canada Rent Subsidy (CERS) comes to end. Deputy Prime Minister and Finance Minister Chrystia Freeland says. Government will still help some businesses and workers hit by COVID-19 and this program would cost C$7,000,000,000. “Today, our support needs to be more narrow, more targeted and less expensive and we need to look …

Budget 2021: 20 ways it could affect your wallet 1. Extension of Canada Recovery Benefit and Canada Recovery Caregiving Benefit Earlier this year, the government announced that both the Canada Recovery Benefit (CRB) and Canada Recovery Caregiving Benefit (CRCB) would be extended by 12 weeks to a maximum of 38 weeks. Budget 2021 proposes adding up to 12 more to …

Newest US President Joe Biden, through a Presidential order, revoked a critical presidential permit for the 300 miles long, Keystone XL oil pipeline, a big blow to Western Canadian economy. Earlier Democrats did stop construction of the pipeline, which would have carried crude oil from Alberta, Canada to the Gulf Coast of the US, in 2015. Environmentalists strongly objected to …

The Government of Canada is taking immediate, significant, and decisive action to support Canadians and businesses facing hardship because of the COVID-19 outbreak. The CRB provides $500 per week for up to 26 weeks for workers who have stopped working or had their income reduced by at least 50% due to COVID-19, and who are not eligible for Employment Insurance (EI). …

A string of US companies has been cautioning investors that first quarter sales could take a hit from the spread of coronavirus. Apple (AAPL) just made it all more real. The $1.4 trillion company put out a surprise investor update on Monday, warning that it no longer expects to meet the revenue guidance provided last month. Notably, the company isn’t …

Canada’s International Trade Tribunal said on Tuesday it had opened an inquiry into whether Argentina, Brazil or Mexico were dumping sucker rods – used in the oil industry – in such a way as to hurt domestic production, according to a statement. The independent tribunal reports to parliament through the finance ministry and will deliver its ruling on April 28, …

Many of Canada’s drug suppliers cannot, or will not, agree to ship cheaper prescription medicines into the United States, a new challenge to the Trump administration’s push to reduce drug prices, companies and industry officials said to reporter. The administration on Wednesday proposed new regulations that would allow states to import prescription drugs from Canada. They would require a state …

Here’s the Bank of Canada’s official statement for its interest rate decision on Wednesday, December 4, 2019: The Bank of Canada today maintained its target for the overnight rate at 1.75 per cent. The Bank Rate is correspondingly 2 per cent and the deposit rate is 1.5 per cent. The Bank’s October projection for global economic growth appears to be intact. There …