Economy

TORONTO – Canada's housing market could see a significant pullback this year because of the COVID-19 pandemic, but could rebound next year, a report by RBC says.This year's home resales could dive by 30 per cent to a 20-year low as…

The Bank of Canada (BoC) today lowered its target for the overnight rate by 50 basis points to ¼ percent. The Bank Rate is correspondingly ½ percent and the deposit rate is ¼ percent. In a statement from the central bank, this unscheduled…

:TORONTO — Due to the evolving COVID-19 situation, on Monday March 23, the Ontario government announced that it will be ordering at-risk workplaces to close-down, while encouraging businesses to explore opportunities to continue…

NEW YORK – A restaurant owner wonders how she can stay in business if she can't sell food and drink.A hair salon operator shuts down to protect his clients and employees.A photographer who expected to take pictures at an Ivy League…

The chief executive officer of the Associated General Contractors of America, Stephen E. Sandherr, issued the following statement in reaction to steps being taken to put in place arbitrary halts to construction activity in certain parts of…

Over the next 30 years, Ontario’s population will become older and grow somewhat slower than in the past, according to the Financial Accountability Office of Ontario’s (FAO) Long-term Budget Outlook.The report states that slower…

OTTAWA – The Bank of Canada is cutting its overnight rate target by half a percentage point to 0.75 per cent in response to COVID-19.The central bank said Friday the unscheduled rate decision was due to the pandemic and its impact on…

OTTAWA – The Bank of Canada is cutting its key interest rate target by half a percentage point, dropping it to 1.25 per cent in response to the economic shock from the novel coronavirus outbreak.The central bank said Wednesday that it…

The Financial Accountability Office of Ontario’s (FAO) Fall 2019 Economic and Budget Outlook report projects Ontario’s budget deficit will increase to $8.5 billion in 2019-20, up from $7.4 billion last year.This marks the third…

MONTRÉAL — Québec Economy Minister Pierre Fitzgibbon said Wednesday the province will not offer financial help to SNC-Lavalin Group Inc. in spite of the construction giant's gathering financial, legal and political storm.“Despite the…