Saleem Salahuddin's blog

Former Federal Reserve Bank of Dallas advisor Danielle DiMartino Booth told CNBC on Monday that the country might already be in a "plain vanilla recession." The declaration is being made as global stock markets plummet due to concerns that the US economy is deteriorating.

Of the two forms of demand-driven recessions, the cyclical or standard recession is the more common kind. These usually come after times when policy was tightened in an effort to curb inflation or excess demand.

DiMartino Booth, CEO and chief strategist at Quill Intelligence, estimates that the recession began in...

Ottawa — Following the announcement of a third straight interest rate cut on Wednesday, governor Tiff Macklem stated that the Bank of Canada may modify the rate of reductions if necessary.

Forecasters had anticipated the quarter-percentage-point decline given the economy's continued weakness and decreasing inflation.

Governor Tiff Macklem stated in his introductory remarks that the central bank's decision was driven once more by the need for growth to resume and the ongoing progress made on reducing inflation.

Although there were no surprises in the governor's announcement on Wednesday,...

According to a recent RBC Economics analysis, Toronto's "lethargic" housing market is still suffering this summer from limited affordability and rising borrowing costs.

According to the research, which was released last week, more rate reductions are required before Toronto and other home markets throughout the nation experience a rise in sales activity.

The report stated that although there was "a modest resales advance in June," the gain was effectively "reversed" by a 0.7% decline in July.

The survey stated that "buyers are clearly looking for larger rate cuts amid strained...

A significant Mississauga development may be expanding.

The developers of Brightwater, a 2,995-unit residential and commercial project located in the historic Port Credit neighborhood of Mississauga, have proposed extending the development's previously approved development by 898 units and raising the tower heights at various locations on the 72-acre site of the former Texaco Canada oil refinery.

Brightwater's new planned designs include for the addition of 16- and 29-story towers where townhomes were previously permitted, as well as a 35-story maximum tower near the development's center...

Although the Bank of Canada's recent rate reduction were welcomed by borrowers, TD Bank and CIBC forecast an additional 175 basis points of easing by the end of 2025, bringing the overnight rate down to 2.75%.

While some borrowers may have had some respite from rising interest rates following the Bank of Canada's recent half-percentage-point rate decreases during the previous two months, projections indicate that much more relief is likely to come.

How much depends on whose forecasting source you believe. Borrowers are certainly hoping that the predictions made by TD Bank and CIBC—two of...

2024 Hourly Wage Increase in Canada

Annual changes to federal regulations and norms are common. Several new laws and regulations, such as the Canada Hourly Wage Increase, will take effect in 2024. The Canada Minimum Wage, which is presently set at $16.50 per hour, is due to every employee in Canada who works for a company. Employers are required by law to pay their workers this hourly wage, which is subject to yearly adjustments depending on inflation and the cost of living.

Having comprehensive knowledge about the Canada Hourly Wage Increase for 2024 is crucial whether you are a...

The Bank of Canada will lower its overnight interest rate by 25 basis points to 4.50% on Wednesday, with a huge majority of economists polled by Reuters expecting inflation to fall further.

The central bank is then anticipated to reduce rates twice more in 2024 as a result of the economy slowing and unemployment gradually rising. However, just a small percentage of analysts predict that the policy rate will be 4.00% by the end of this year, with the odds favoring fewer rate cuts than more.

Since early this year, economists have consistently projected at least three rate cuts from the...

This week, the Bank of Canada will be closely examining May inflation data to determine if it can successfully implement consecutive interest rate reductions.

The May annual inflation rate is scheduled to be released by Statistics Canada on Tuesday.

This year, inflation has continuously shown indications of slowing down; it last registered 2.7% in April.

The Bank of Canada was able to alter its monetary policy significantly this month by lowering its benchmark interest rate by a quarter of a percentage point because to the lessening pricing pressures. In order to bring inflation back...

The Canadian government is implementing policies to incentivize candidates to apply domestically rather than abroad.

Foreign nationals wishing to apply for a post-graduation work permit in Canada are not permitted to do so at an airport, land border, or sea border. Foreign nationals wishing to apply for a post-graduation work permit at a port of entry will no longer be able to do so after June 21, 2024. Applications for work permits made upon arrival into Canada after graduation are not to be processed by border services personnel, according to instructions.

If qualified, an individual...