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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…

According to the Building Industry and Land Development Association’s latest new home market report,  home sales of 2,549 units were down 40 per cent from May 2021 and 26 per cent below the 10-year average. Sales of new condominium…

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…

High household debt and elevated housing prices have become bigger vulnerabilities in the past year, but the economy can still handle the rising interest rates needed to tame inflation, Bank of Canada governor Tiff Macklem said…

OTTAWA – The Bank of Canada said vulnerabilities from high household debt and elevated housing prices have increased and pose key risks to the Canadian financial system.In its latest financial system review, the central bank said…

*In a June 8 story about commercial real estate, The Canadian Press erroneously reported 94 per cent of RioCan Real Estate Investment Trust's retail space was occupied. In fact, 97 per cent was occupied.This report by The Canadian Press…

TORONTO – A new study conducted by Chartered Professional Accountants of Canada (CPA Canada) finds that Canadians who don't own homes think home ownership remains far out of reach despite prices cooling slightly across the country.…

OTTAWA – The Bank of Canada may need to raise its key interest rate to three per cent or beyond – more than double its current level – to ensure inflation doesn't settle in for the long haul, its deputy governor says.``We're scared that…

The Bank of Canada raised its overnight rate by half a percentage point to 1.5 per cent Wednesday and signalled more increases to come, as it aims to curb out-of-control inflation, which is now at its highest level in 30 years.Here's…