From the Bank of Canada's steady hand to a surge in housing starts and Ottawa's new financial crime-fighting agency — here are the five money stories every Canadian should have on their radar this morning. 1 Bank of Canada Rate Holds at 2.25% — Next Decision June 10 The Bank of Canada kept its overnight rate at 2.25% on April 29 and has signalled it intends to stay put for now. Governing Council is keeping a close eye on Middle East conflict spillover into energy prices, ongoing U.S. tariff uncertainty, and whether inflation — currently hovering just above the 2% target — becomes entrenched. Bond markets are currently pricing in roughly an 18% chance of a 25-basis-point cut by the July 15 announcement, making a move at the June 10 meeting unlikely. 💡 What it means for you: Variable-rate mortgage and HELOC holders can exhale — no surprise hikes on the horizon. But don't expect big rate relief either; the "lower-for-longer" window appears to be closing. 2 Mortgage...
Canada Post Strike Threatens to Derail Critical Holiday Season for Retailers
As the holiday season approaches, a strike by over 55,000 Canada Post workers threatens to disrupt deliveries across the country. The Canadian Union of Postal Workers (CUPW) initiated the strike after failed negotiations with the Crown corporation over wages, working conditions, and other issues.
The timing couldn't be worse for retailers, who rely heavily on timely deliveries during this peak shopping period. With mail and parcels not being processed or delivered, businesses are scrambling to find alternative shipping solutions. Rural and remote communities, which depend solely on Canada Post, are expected to be hit the hardest.
While the strike has caused significant concern, Canada Post has assured that government benefit cheques, such as Old Age Security and the Canada Child Benefit, will still be delivered during the strike. However, the overall impact on retailers and consumers remains uncertain, and the situation is being closely monitored as the holiday season kicks into full gear.
Comments
Post a Comment