New Delhi: The country’s car industry has for the second time revised upwards its growth projections for this fiscal to more than 8%, nearly twice the rate projected at the start of the year. Passenger vehicle sales in the local market are expected to grow by 8.1-8.2% to 4.23 million units in FY24, buoyed by … Read more
The Bank of Canada has held its key interest rate at five per cent again, saying that it’s still too soon to consider rate cuts while underlying inflation persists. Economists were widely expecting the central bank to hold the rate. The bank said in a note on its website that it was still concerned about underlying inflation, which strips … Read more
January home sales jumped 22 per cent compared with a year ago, the largest year-over-year increase since May 2021, according to The Canadian Real Estate Association. The association says the increase reflected weakness last year, which saw the worst start to almost any year in the past two decades. Home sales in January 2024 were … Read more
The South African Reserve Bank’s (SARB’s) Monetary Policy Committee (MPC) will sit for its first meeting of the new year on Thursday, 25 January. FOR THE LATEST BUSINESS NEWS VISIT THE SOUTH AFRICAN WEBSITE It’s widely expected that the central bank to keep the repo rate at 8.25% while the current prime lending rate will … Read more
As the United Kingdom strives to overcome the economic challenges it faced in the past year, a new study by the EY Item Club suggests that a positive turnaround may be on the horizon. The forecast, sponsored by the renowned accountancy firm EY, predicted that falling inflation, potential interest rate cuts and potential tax reductions … Read more
Some businesses in Canada who took out a CEBA loan may be hoping in vain for a last-minute reprieve and one more chance at free money from the federal government, but others involved say it’s time to move past trying to shift the deadlines for repayment. The federal government has indicated the deadline to pay … Read more
With a major deadline to repay a pandemic era loan on the horizon, Rod Castro says he feels like he’s performing a “juggling act” while trying to figure out the best way forward. “I haven’t written myself a paycheck or cashed a paycheck in about three months,” he told CBC News. “Right now, all we’re doing … Read more
The Bank of Canada’s governing council agreed the odds of another rate hike have decreased during its discussions ahead of the interest rate decision earlier this month. The central bank released its summary of deliberations for its Dec. 6 interest rate decision Tuesday, revealing the governing council felt more optimistic about the country’s inflation outlook. … Read more
Canada’s annual inflation rate held steady at 3.1 per cent in November, matching the previous month’s rate, according to data released by Statistics Canada on Tuesday. Economists were expecting the rate to fall below the three per cent threshold, putting the economy closer to the Bank of Canada’s two per cent inflation goal. Mortgage interest costs and the high cost … Read more
A report from Statistics Canada says that the ratio of Canadian household debt to income narrowed in the third quarter. The agency says household credit market debt as a proportion of household disposable income in the third quarter fell to 181.6 per cent, on a seasonally adjusted basis, down from 181.9 per cent in the … Read more
