As a university student in southern Ontario, Kathleen Cassidy was seeking a way to stretch her dollars. While out shopping at her local grocery store, she found coupons and so began a longstanding commitment to seldom paying full price. Now 10 years later, she’s acquired a massive following on social media, helping Canadians plan their […]
Even as warnings about a potential recession grow louder, the Bank of Canada is expected to announce another hefty interest rate hike on Wednesday, edging the bank closer to the end of one of the fastest monetary policy tightening cycles in its history. RBC senior economist Nathan Janzen says it’s a coin toss between the […]
Mark Carney, former head of central banks in both Canada and the U.K., told a Senate committee on Thursday that the economy is likely to fall into a recession sometime next year. Source link
Markets Finance Faltering home prices are hurting investors’ demand for junk-rated mortgage securities sold by housing giants Fannie and Freddie Source link
A new report says holiday spending in Canada is expected to drop this year as inflation shrinks consumer buying power and economic uncertainty looms. In its 2022 Holiday Retail Outlook, Deloitte Canada says overall holiday spending is expected to fall 17 per cent to $1,520 per household as recessionary concerns and higher interest rates rein […]
Most Canadian businesses expect to grow their payrolls over the next 12 months even as they brace for a possible recession, according to a survey from the Bank of Canada. The central bank’s third quarter Business Outlook Survey released Monday showed that most businesses in Canada intend to keep hiring through the next 12 months, […]
Updated Oct. 14, 2022 8:10 am ET Listen to article (2 minutes) JPMorgan Chase & Co.’s third-quarter profit dropped 17% as the bank built up its defenses for a potential recession and took a nearly $1 billion loss on securities it held. The nation’s biggest bank’s revenue rose 10% to $32.72 billion thanks to higher […]
Many economists say a mild recession is on the cards as they look ahead to 2023. Though plenty of Canadians remember living through a recession or two, for millions of others it will be the first major downturn in their adult lives. Some are in their late 20s, perhaps thinking of buying a house or […]
Economists agree that the U.S. is teetering on the edge of recession. Someone forgot to tell air travelers. On Thursday, Delta Air Lines the first big carrier to release third-quarter earnings, reported adjusted revenue of $12.8 billion, which were 11% higher than during the same period of prepandemic 2019. Earnings were slightly below what Wall […]
The Canada Mortgage and Housing Corp. is calling for a steeper decline in the Canadian housing market amid higher-than-expected inflation and interest rate hikes so far this year. The Crown corporation said in an updated housing outlook released Thursday that it believes the national average home price in Canada will fall 14.3 per cent by […]