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The economic downturn significantly affected Canadian households in several ways. Official statistics indicated a 25% increase in food inflation and a 30% rise in energy costs since the COVID-19 pandemic. Provincial sales taxes ranged from 13% to 15%, further impacting consumer spending power.
Canadian banks wrapped up second-quarter earnings season last week, with most reporting better-than-expected profits, in large part by reducing the amounts of funds they set aside for future loan ...
The $690 in direct costs from a tariff on Canada would amount to a 0.42% increase in consumer prices overall — just a small fraction of the cumulative 21% price inflation households experienced ...
Canadian bond yields were mixed across the curve. The 2-year was down 2.4 basis points at 2.623% but holding well above the near three-year it hit during Monday's session at 2.459%. (Reporting by ...
Household debt, the amount of money that all adults in the household owe financial institutions, includes consumer debt and mortgage loans. In March 2015, the International Monetary Fund reported that Canada's high household debt was one of two vulnerable domestic areas in Canada's economy; the second is its overheated housing market. [164]
Consumer bankruptcy in Canada is governed by the Bankruptcy and Insolvency Act ("BIA"). [1] The legislation is complemented by regulations, as well as directives from the Office of the Superintendent of Bankruptcy that provide guidelines to trustees in bankruptcy on various aspects of the BIA.
The Canadian dollar weakened to nearly a five-year low against its U.S. counterpart on Tuesday, hurt by domestic political unrest as well as a wider gap between Canadian and U.S. bond yields after ...
The Canadian dollar touched a 4-1/2-year low against its U.S. counterpart on Monday before recouping its losses and Canadian bond yields rose, as investors weighed the fiscal implications of the ...