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Inflation dip won’t be enough to stop another bank rate hike: analysts

OTTAWA – Forecasters are expecting the Bank of Canada to move ahead with another interest rate hike in July, even as they expect the annual inflation rate to slow significantly. Statistics Canada is set to release its consumer price index report for May on Wednesday, providing the most up-to-date inflation reading ahead of the Bank […]

Real estate: May home sales, prices rise year-over-year

Canada’s real estate market continued to heat up in May with home sales posting their first year-over-year increase since June 2021 and the average price seeing its first year-over-year gain in a year. The findings released by the Canadian Real Estate Association on Thursday suggested a marked shift away from the sluggish sales and slumping […]

Consumer insolvency spiked to highest level since 2019

Consumer insolvencies have risen to their highest level since 2019, new numbers showed Wednesday, in a troubling sign that Canadians are having trouble staying on top of their debt load. Data released from the Office of the Superintendent of Bankruptcies on Wednesday showed that 11,768 people filed insolvency paperwork in March. That’s the highest single […]

Riskiest scams in Canada ranked by Better Business Bureau

A new report from the Better Business Bureau (BBB) ​​says the riskiest frauds in Canada are home improvement scams and cryptocurrency scams, followed by advance fee loan scams. The organization, which advocates for education to protect consumers, says home improvement scams were the riskiest in 2022, up from the fourth-riskiest ranking in 2021. According to […]

McDonald’s reportedly temporarily shuts its US corporate offices ahead of layoffs

McDonald’s Corp is temporarily closing its US offices this week as it prepares to inform corporate employees about its layoffs as part of a broader company restructuring, the Wall Street Journal reported Sunday. In an internal email last week to US employees and some international staff, McDonald’s asked them to work from home from Monday […]

Honda recalls 564,000 CR-Vs sold in 22 cold-weather states and DC, over potential rust issue

Honda is recalling 563,711 older-model CR-Vs in 22 cold-weather states and Washington, DC, because an accumulation of road salt can cause the vehicle’s rear trailing arm to corrode and detach, which could lead to a crash. According to the recall notice posted on the National Highway Traffic Safety Administration’s website, Honda said it had received […]

The Bank of Canada is ready to step in if the global financial crisis causes ‘spillovers’ to banks here

The Bank of Canada is ready to defend Canadian banks from a global financial meltdown if the current banking crisis in the US and Europe spills into Canada, but the central bank does not think they will have to step in. Speaking on Wednesday at the National Bank Financial Services Conference, Bank of Canada deputy […]

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