Daily News

Economy Source: Financialpost July 13, 2023

Canadians to pay for governments' pandemic overspending with their tax dollars: report

C.D. Howe authors say lack of transparency in budget process left governments unaccountable for spending decisions Canada’s senior governments weren’t transparent enough about the additional $309 billion spent during the COVID-19 crisis, argues...

Source: BNN Bloomberg July 12, 2023

Wall Street traders drive U.S. stocks higher before CPI

The stock market finished higher before a report that’s expected to show a slowdown in inflation, which will help shape the outlook for the Federal Reserve’s next steps. In the run-up to the consumer price index, the S&P 500 extended its advance beyond the...

Market Call Source: BNN Bloomberg July 12, 2023

Kim Bolton's Top Picks: July 11, 2023

Kim Bolton, president and portfolio manager, Black Swan Dexteritas FOCUS: Technology stocks  MARKET OUTLOOK: For June, the S&P 500 and Nasdaq Composite both added about 6.5 per cent, and the Dow Jones Industrial Average’s 4.6 per cent gain was the...

Source: BNN Bloomberg July 12, 2023

TSX recap: Energy stocks help lift Index 0.28% higher

Gains in energy stocks helped buoy Canada's main stock index Tuesday, while U.S. markets also rose, as investors in both countries await big economic news Wednesday. Trading on Tuesday was the calm before the storm, with markets ticking upwards ahead of in...

Source: Bankofcanada July 12, 2023

Monetary Policy Report – July 2023

Inflation in Canada and around the world has been coming down. The Bank projects that inflation will stay around 3% for the next year, returning to the...

Source: Bankofcanada July 12, 2023

Bank of Canada raises policy rate 25 basis points, continues quantitative tightening

The Bank of Canada today increased its target for the overnight rate to 5%, with the Bank Rate at 5¼% and the deposit rate at 5%. The Bank is also continuing its policy of quantitative tightening. Glo...

Source: Bankofcanada July 12, 2023

Monetary Policy Report Press Conference Opening Statement

Good morning. I’m pleased to be here with Senior Deputy Governor Carolyn Rogers to discuss today’s policy announcement and the Bank of Canada’s Monetary...

Source: Financialpost July 12, 2023

Trans Mountain expansion's pipe dream marred as overruns drive up cost of exporting oil to Asia

Set to become a $20-billion taxpayers’ headache and an expensive option for exporters A Canadian pipeline hailed as a cheap and speedy way to send oil to Asia is set to become a $20-billion taxpayers’ headache and an expensive option for export...

Source: Financialpost July 12, 2023

Posthaste: How another Bank of Canada rate hike will affect the housing market

Hike tomorrow could put prime rate at 7.2 per cent, the highest in 22 years We apologize, but this video has failed to load. Try refreshing your browser, ortap here to see other videos from our team. Posthaste: How ano...

Source: Financialpost July 12, 2023

A heat wave will cook an electric car battery, if you let it

Extreme heat is akin to heart disease for EV batteries, or a mellow and slow-moving form of cancer Consider it ironic, or at least a little poetic: Electric vehicles, great for combating climate change, don’t do well in extreme heat. It’s a par...