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NEW YORK (AP) – It's the summer that cooled off the housing market.Rising mortgage rates have combined with already high home prices to discourage would-be buyers. Mortgage applications have declined sharply. Sales of previously…

TORONTO – A BMO Capital Markets senior economist says the Bank of Canada's recent move to increase its key interest rate is setting up the housing market for an even deeper correction next year.Robert Kavcic says governor Tiff…

OTTAWA – Canada's annual inflation rate rose to 8.1 per cent in June, boosted by soaring gas prices, which rose more than 50 per cent compared with a year ago, Statistics Canada said Wednesday.The June inflation rate was up from 7.7…

OTTAWA – Economists are predicting an even higher reading of inflation for June as energy and food prices crept higher and the economy reopened further.The consumer price index in Canada hit a nearly 40-year high of 7.7 per cent in…

CALGARY — A new poll indicates Canadians are making increasingly tough budget decisions amid rising interest rates and inflation.The MNP Ltd. survey, conducted by Ipsos in early June, suggests over a quarter of Canadians are cutting…

OTTAWA – A pair of new reports from the Bank of Canada point to rising inflation expectations by Canadian businesses and consumers.In its business outlook survey released Monday, the central bank said businesses' expectations for…

Amidst skyrocketing costs of living and housing, mistrust towards Bank of Canada rises, too

OTTAWA – Soaring gas prices helped the annual inflation rate in May soar to its highest level in nearly 40 years, as the rising cost of living for Canadians squeezed household budgets and bolstered expectations the Bank of Canada will opt…

TORONTO – The federal government is prepared to take further action to address more severe economic volatility, but Finance Minister Chrystia Freeland wouldn't say if a hard landing for Canada's housing market would be the trigger for…

OTTAWA – Statistics Canada says the amount Canadians owe relative to their income pulled back in the first quarter from the record level set in the fourth quarter of 2021 as incomes grew faster than debt.The agency says, on a…