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The Bank of Canada slashed its key interest rate for the second time in nine days on Friday to provide a "bridge across the trouble" as authorities seek to stave off a potential recession amid the ...
Canada's annual inflation rate hit 8.1% in June, up from 7.7% in May, driven by higher costs at the gas pump and almost everywhere else, Statistics Canada said, but short of forecasts it would ...
Surging oil and wheat prices are allowing commodities exporter Canada to weather an economic storm threatening to tip many of its fellow G7 rich nations into recession. Russia's invasion of ...
From 2003 to 2018, Canada saw an increase in home and property prices of up to 337% in some cities. [2] In 2016, the OECD warned that Canada's financial stability was at risk due to elevated housing prices, investment and household debt. [3] By 2018, home-owning costs were above 1990 levels when Canada saw its last housing bubble burst. [4]
The government's social distancing rules had the effect of limiting economic activity in the country. Companies started mass layoffs of workers, and Canada's unemployment rate was 13.5 percent in May 2020, the highest it has been since 1976. [1] Many large-scale events that planned to take place in 2020 in Canada were cancelled or delayed.
The economy of Canada is a highly developed mixed economy, [33] [34] [35] with the world's ninth-largest economy as of 2024, and a nominal GDP of approximately US$2.117 trillion. [6] Canada is one of the world's largest trading nations, with a highly globalized economy. [36] In 2021, Canadian trade in goods and services reached $2.016 trillion ...
The economy expanded by 0.4% in August, missing estimates, and looked set to show no growth in September, when supply chain issues crimped auto exports and retail sales declined, Statistics Canada ...
Canada's economy is closely linked to that of the United States, and economic conditions south of the border tend to quickly make their way north. Canada's stock markets were especially hard hit by the collapse in high-tech stocks. For much of the 1990s the rapid rise of the TSX had almost wholly been attributed to two stocks: Nortel and BCE ...