A surge in new apartment construction drove housing start increases in some major Canadian cities last year, but demand continues to outweigh supply, according to a report released Wednesday by the federal housing agency. The report from Canada Mortgage and Housing Corporation focuses on six major cities: Toronto, Montreal, Vancouver, Calgary, Edmonton and Ottawa. Their combined housing … Read more
Canada’s annual inflation rate cooled to 2.8 per cent in February, helped by slower growth in the cost of cellular services, groceries and internet access services, Statistics Canada said Tuesday. Economists had largely expected the rate to rise to 3.1 per cent and undo some of the year’s early progress. Rent and mortgage interest costs continued to be primary … Read more
Bank of Canada governor Tiff Macklem says he expects 2024 to be a transition year as higher interest rates slow down the economy, making way for lower inflation. In his final speech of the year, the governor laid out his expectations for a softer economy next year and offered criteria for the central bank to start discussing rate … Read more
For a third straight time, the U.S. Federal Reserve kept its key interest rate unchanged Wednesday, as it signalled its expectations to make a series of quarter-point cuts to the benchmark interest rate next year. Those envisioned rate cuts — which wouldn’t likely begin until the second half of 2024 — suggest officials think high borrowing rates … Read more
