Breadcrumb Trail Links PMN Business Analysts who expect the Bank of Canada’s first interest rate cut in April are rare – but they believe economic data may soon prove there’s enough disinflationary pressure to spur policymakers into action. Author of the article: Bloomberg News Randy Thanthong-Knight Published Feb 28, 2024 • 3 minute read Join […]
Article content (Bloomberg) — Canada’s relatively cheap heavy crude is set to spike temporarily in the coming months as a massive new export pipeline starts operations just as oil-sands companies curtail production. Western Canadian Select’s discount to US benchmark West Texas Intermediate may shrink from its current level of about $17.10 per barrel to […]
Article content (Bloomberg) — Real estate services firm Avison Young (Canada) Inc. says it’s close to finishing a restructuring to clean up its balance sheet after it defaulted on a senior term loan, causing a ratings downgrade. “We have been focused on finalizing a transaction with our financial partners which will significantly strengthen Avison Young […]
Article content (Bloomberg) — Canada will provide Ukraine C$3 billion ($2.2 billion) in aid this year to prop up the war-ravaged economy and boost its military as Kyiv looks for ways to hedge against a potential shortfall in US assistance. The Canadian funding will help Ukraine’s government meet its balance of payments and budgetary needs, […]
Article content (Bloomberg) — German lawmakers approved a controversial bill legalizing personal use of cannabis, paving the way for controlled consumption of the drug from April 1. The legislation introduced by Chancellor Olaf Scholz’s government — a first step toward a planned broader legalization — was supposed to take effect at the start of the […]
Article content (Bloomberg) — Canadian consumers sharply pulled back their spending in January after stronger-than-expected retail purchases at the end of last year. Receipts for retailers fell 0.4%, the biggest decline since March 2023, according to an advance estimate from Statistics Canada released Thursday. That followed a 0.9% jump in December, which beat the median […]
Article content (Bloomberg) — Canada’s population aging slowed for a second straight year as a result of strong immigration, including a recent boom in foreign students and temporary workers. The median age — which divides the population into two groups of equal size and is a key measure for a country’s age distribution — fell […]
Article content (Bloomberg) — Canadians bought up a record amount of foreign securities at the end of last year as investors piled into US stocks. Investment in securities outside the country hit C$29.4 billion ($21.8 billion) in December, according to data released Friday by Statistics Canada. That’s the largest net outflow of purchases into foreign […]
Article content (Bloomberg) — Canadians are skeptical of Prime Minister Justin Trudeau’s ability to negotiate with Donald Trump if the former US president returns to power, a new poll found. Only 28% named Trudeau as the political leader who would do the best job of dealing with Trump, even though the Canadian prime minister has […]
Article content (Bloomberg) — Canadian home sales rose for the second month, with buyers rushing back into the market as speculation builds that prices will rise if the Bank of Canada lowers interest rates later this year. The number of homes that traded hands rose 3.7% in January from the month before, according to data […]