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10 Proven Ways Canadian Families Can Save Big on Groceries This Summer

  Published on moneysavings.ca | Personal Finance & Everyday Savings If you've been to a Canadian grocery store lately, you already know — the sticker shock is real. Feeding a family in Canada has become one of the biggest household expenses, and with food prices still elevated, many families are looking for smart, practical ways to stretch every dollar. The good news? You don't have to sacrifice quality or go hungry to save big. With a few simple habit changes, many Canadian families are cutting hundreds of dollars off their monthly grocery bills. Here are 10 strategies you can start using today. 1. Shop the "Reduced for Quick Sale" Section First Every major grocery store in Canada — from Loblaws to Sobeys to Walmart — has a section dedicated to items nearing their best-before date. These items are often marked down by 30–50%, and they're perfectly good to eat within a day or two (or freeze immediately). Make it a habit to check this section the moment...
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C$ Climbs to 6-Day High on Fed Rate Cut Forecast

 


In a positive turn of events, the Canadian dollar (C$) has strengthened to a six-day high against its U.S. counterpart. Investors are celebrating the Federal Reserve’s decision to stick with its interest rate-cutting forecast for 2024.

Here are the key points:

  • The loonie (as the Canadian dollar is affectionately known) is trading 0.5% higher at 1.35 to the U.S. dollar, or 74.07 U.S. cents. It touched its strongest intraday level since last Thursday at 1.3491.
  • The Federal Reserve held interest rates steady, but policymakers indicated they still expect to reduce rates by three 25-basis-point cuts by the end of 2024. This is despite slower-than-expected progress toward the U.S. central bank’s 2% inflation target.
  • Wall Street rallied, U.S. Treasury yields fell, and the U.S. dollar lost ground against a basket of major currencies.
  • The Bank of Canada also expects to ease rates this year, as revealed in the minutes from the central bank’s policy meeting earlier this month. However, policymakers remain divided over when there will be enough evidence that conditions are right for cuts.
  • The decline in the price of oil, one of Canada’s major exports, had little impact on the loonie. U.S. crude oil futures settled 2.1% lower at $81.68 a barrel, giving back some recent gains.
  • Canadian government yields fell across the curve, tracking moves in U.S. Treasuries. The 10-year yield was down 3.2 basis points at 3.492%, extending its pullback from the highest intraday level in one month at 3.624% on Tuesday.

In summary, the Canadian dollar’s ascent reflects optimism about the Fed’s commitment to rate cuts, while the Bank of Canada keeps a close eye on economic conditions. 


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