WEEK OF DECEMBER 16 2024 NEWSREEL WITH VANESSA TOPPLE
A headline caught our attention read – B.C. housing minister says policies to thank for rent price dip. We fact checked the statement....
read moreBANK OF CANADA TO RESUME CAUTIOUS APPROACH TO RATE CUTS NEXT YEAR: TD CHIEF ECONOMIST
TD Bank’s chief economist says the Bank of Canada is unlikely to make another 50-basis point (bps) cut to its overnight lending rate next year as the bank reached the top end of its neutral range with its latest jumbo cut on Wednesday. “At this point, they have hit their neutral range, at least the upper end of what they had previously estimated, and they need to be careful because you can overshoot,” Beata Caranci told BNN Bloomberg in a Thursday interview. “(Which) could provide too much...
read moreTRUDEAU CONSIDERING HIS OPTIONS AS LEADER AFTER FREELAND QUITS CABINET, SOURCES SAY
Prime Minister Justin Trudeau is considering his options as leader, sources tell CTV News, after Finance Minister Chrystia Freeland revealed she will quit cabinet. In an explosive resignation letter published Monday morning, Freeland ignited a storm of confusion and speculation on Parliament Hill the same day she was set to table her fall economic statement – a document that includes key economic metrics such as the size of Canada’s deficit. Leaders from the Conservative party and the...
read moreLIBERAL HOUSING MINISTER SEAN FRASER RESIGNS FROM TRUDEAU’S CABINET, WON’T SEEK RE-ELECTION
Housing Minister Sean Fraser says he will not be running in the next federal election, citing a need to spend more time with his family. Fraser made the announcement Monday morning at a news conference in Ottawa ahead of a cabinet meeting and the fall economic statement. His announcement comes as Chrystia Freeland also announced she is leaving her cabinet post as finance minister. He said he came to this decision months ago, while he was recovering from a back surgery operation and was...
read moreFINANCE MINISTER CHRYSTIA FREELAND RESIGNS FROM CABINET
Ottawa was gripped by political drama on Monday after Finance Minister Chrystia Freeland stunningly resigned from cabinet, hours before she was scheduled to table the Trudeau government’s Fall Economic Statement. “On Friday, you told me you no longer want me to serve as your Finance Minister and offered me another position in cabinet,” Freeland wrote in a letter addressed to Prime Minister Justin Trudeau, which she shared on the social media site X. “Upon reflection, I have concluded that the...
read moreWEEK OF DECEMBER 9 2024 NEWSREEL WITH VANESSA TOPPLE
New Brunswick’s newly elected Liberal government wasted no time implementing a rent cap and looking at the reactions, in their haste didn’t get it right – not that they ever could!...
read moreCRACK DOWN OR CRACKDOWN? AIRBNB HOSTS IN TRUDEAU’S CROSSHAIRS WITH NEW $50M ENFORCEMENT PLAN
Prime Minister Justin Trudeau has announced a federal initiative targeting short-term rental platforms like Airbnb and Vrbo. The $50-million Short-Term Rental Enforcement Fund, unveiled this week, aims to provide municipalities with resources to regulate and reintegrate short-term rental units into the long-term housing market. “There are more than 200,000 short-term rentals across the country—like Airbnbs or Vrbos—that could be turned into housing,” Trudeau stated in a post. “So we’re giving...
read moreCANADIAN PER-CAPITA GDP FALLS FOR A 6TH QUARTER, SUPERSIZED CUT EXPECTED: RBC
Canada’s largest bank believes weak economic output will justify big rate cuts in a few days. A new RBC report notes that gross domestic product (GDP) climbed in Q3 2024, but the slower-than-expected growth was driven entirely by government spending. More concerning to their team was the 6th consecutive per-capita decline, with the first Q4 data points indicating a 7th may be on the way. Consequently, RBC has forecast a supersized rate cut at this month’s central bank rate decision, despite...
read moreJOBLESS RATE REACHES 6.8% IN NOVEMBER, HIGHEST SINCE 2017 OUTSIDE OF PANDEMIC
Canada’s unemployment rate jumped to 6.8 per cent last month as more people looked for work in a weak job market, shifting expectations toward a jumbo interest rate cut next week. Statistics Canada’s November labour force survey says the jobless rate last month reached the highest since January 2017, outside of the COVID-19 pandemic. The unemployment rate was 6.5 per cent in October. Meanwhile, the economy added 51,000 jobs in November, with employment gains concentrated in full-time work and...
read moreTRUDEAU’S IMMIGRATION PLAN HINGES ON MILLIONS OF PEOPLE LEAVING
Prime Minister Justin Trudeau’s plan to fix immigration in Canada depends on the biggest exodus of people since at least the 1940s — one that many economists doubt is feasible. Slamming the brakes on record-setting population growth requires 2.4 million non-permanent residents to leave or change status over the next two years, according to the government’s forecasts, which also see 1.5 million new temporary arrivals during that time. That projected net loss of about 900,000 international...
read more