Business

Rate Cut: The Bank of Canada chose to hold its target for the overnight rate steady at 2.25%, keeping the Bank Rate at 2.50% and the deposit rate at 2.20%. No rate cut was introduced during this meeting as the Bank opts to maintain its current position. Economic Outlook: While Canadian growth stalled over the past year, economic activity rebounded in the second quarter of 2026 with an estimated...

Toronto’s condo affordability is at 2019 levels, according to a new report from RBC Economics. Single-family homes not so much. By May Warren, Housing Reporter As prices sink, Toronto condos have returned to 2019 affordability levels, according to a new report from RBC Economics. “Condo prices in Toronto have fallen faster than most other markets, and that is happening while incomes have...

Good morning, Please find a summary of the Bank of Canada’s today’s interest rate decision and its current economic outlook. Rate Cut: The Bank of Canada decided to hold steady, keeping its target for the overnight rate at 2.25% rather than issuing a cut. This pause leaves the Bank Rate at 2.5% and the deposit rate at 2.20%. Economic Outlook: Canada’s GDP unexpectedly edged down by...

The Bank of Canada has maintained its overnight rate at 2.25% this morning, marking the fourth consecutive rate hold since October 2025. For those waiting for a rate cut before making a move, this may be a good time to reassess that strategy, as further cuts do not appear likely in the near term. The Bank is currently balancing two competing economic forces. On one hand, the Canadian economy...

Carney expects Canada to avoid recession Carney said the best way to respond to the "enormous shock" in the global economy created by the conflict is by tackling affordability issues at home, building more homes and accelerating the approval of large nation-building projects. "Its absolutely clear and has been reinforced again by events in the Middle East: we have to make our economy stronger and...