Year-over-year inflation in the United States reached its lowest level in more than three years in July, the latest sign that the worst price spike in four decades is fading and setting up the Federal Reserve for an interest rate cut in September. Wednesday’s report from the U.S. Department of Labor showed that consumer prices rose just … Read more
Stocks tumbled Friday on worries the U.S. economy could be cracking under the weight of high interest rates meant to whip inflation. The S&P 500 fell 1.8 per cent on Friday for its first back-to-back loss of at least one per cent since April. The Dow Jones industrial average lost 1.5 per cent, and the Nasdaq composite … Read more
The Bank of Canada cut its key interest rate to 4.5 per cent on Wednesday, with governor Tiff Macklem saying during a news conference that it would be reasonable to expect further rate cuts if inflation continues to ease. The cut was widely expected by economists after inflation eased in June. It marked the central bank’s second … Read more
Cost of Living5:08Trade you a breadmaker for banana bread? When Samantha Fanning was expecting her second child, the room that would become the baby’s nursery needed a major glow-up. But as a professional photographer and at the time a single mother, Fanning didn’t have room in her schedule — or the painting skills required — to transform … Read more
Since the third plenum of China’s 19th Central Committee’s in 2018, economists and academics have offered advice on how Beijing should plan its economic strategies. And with the tone-setting third plenum of the new Central Committee set to take place next week in Beijing to chart China’s long-term growth path, we look at four of … Read more
On Tuesday, a letter signed by sixteen Nobel Prize-winning economists warned that the U.S. and world economies would suffer should Republican Presidential candidate Donald Trump wins the November election. Axios first reported the jointly-signed letter, which states that the economic agenda of U.S. President Joe Biden, a Democrat, is ‘vastly superior’ to that of Mr. … Read more
For months, the Bank of Canada has been trying to thread a needle: slow the economy just enough to get inflation back under control but not so much that it causes a recession. In a report released this week, the central bank offered up plenty of evidence that its strategy is working. Inflation has eased, economic growth has … Read more
The Bank of Canada has lowered its key interest rate to 4.75 per cent, marking the bank’s first rate cut since March 2020. Bank governor Tiff Macklem said in opening remarks that the bank’s monetary policy no longer needs to be as restrictive. “We’ve come a long way in the fight against inflation. And our confidence that inflation will continue … Read more
Cost of Living76:40:00The Great Exhaustion For years, Sabrina Royal worked with one of Canada’s big banks. She worked her way up from an entry-level job to a management position. But that’s when her hours started getting out of hand. “When it was good, I was working 8 a.m. to about 6:30 p.m.,” Royal, 42, told … Read more
The Canadian economy gained 90,000 jobs in April, much higher than the average of 20,000 jobs many economists were predicting for the latest Labour Force Survey numbers from Statistics Canada. The federal agency pinned the increases in employment on part-time work, with more than 50,000 more of those types of positions. There were more jobs in … Read more
