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Growth in household debt rises in July

Credit card debt outpaced other forms of non-mortgage borrowing

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Federal Reserve is poised to leave rates unchanged as it tracks progress toward a soft landing

Another rate hike this year will likely remain on the table, and Fed officials may project fewer cuts for next year

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Five things to watch in the Canadian business world this week

Auto negotiations, energy summit, inflation data and a return to parliament

Arrow blocks

Inflation likely gained pace in August, reversing progress

Economists say recent slack in the economy will convince the BoC to remain on the sidelines

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Scotia cuts 2023 GDP forecast

Persistent core inflation remains the key risk to rates, economy

  • By: Staff
  • September 15, 2023 September 15, 2023
  • 15:43
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Deteriorating credit conditions to weigh on banks

Rising credit provisions, funding costs, pinching bank profits, DBRS says

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Foreign investors stay hungry for Canadian debt

Offshore investors pile into corporate and government bonds in July

  • By: Staff
  • September 15, 2023 September 15, 2023
  • 13:28
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National home sales fall between July and August as market slows

But a return to housing affordability isn't imminent, says an economist

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G20 growth slowed in Q2: OECD

Weakness in China dragged down overall GDP

World currency

Yellen details tighter scrutiny of investment plans of foreign owned companies operating in the U.S.

Treasury secretary says Committee on Foreign Investment is adapting to a changing global economy

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Europe’s central bank hikes interest rates again even as threat of recession grows

Decision raises benchmark deposit rate to 4%, highest since the euro was established in 1999

Retail sales

Retail sales rise 0.6% in August largely due to a spike in gas prices

Fifth straight monthly gain reflects resilient economy despite tough economic environment

Federal Reserve building in Washington DC, USA

Three officials sworn in at Federal Reserve

Governing board reaches full strength with Biden appointees


Jobless rates stick at low levels in July: OECD

Unemployment remains historically low in U.S., Europe

Global growth

Fitch cuts forecasts for Canada, global economy

Weakness in China, tighter financial conditions weighing on outlook

union jack national flag of the united kingdom (uk)

U.K. economy shrinks in July amid bad weather and doctors’ strikes

Growth is expected to stay tepid

Chalk drawing of house

Housing gap to restore affordability remains at about 3.5 million units: CMHC

The supply picture has improved somewhat in Ontario, but has worsened in other provinces like Quebec, Alberta, and British Columbia

Chart going down

High gas prices push up inflation, but prices overall are slowly moving in the right direction

Decline in the core measure points to inflation coming under control

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Statistics Canada says household debt ratio down in Q2 as income grew

Disposable income comfortably outpaced the growth in debt, demand for mortgages fell

Computer screen

U.S. equities boost Canada’s foreign assets: StatsCan

Market gains tempered by rising Canadian dollar in Q2

Green forest

Climate risk added to OECD corporate governance guidance

G20 endorsed revised global principles that incorporate sustainability

investment growth

Emerging market forecasts higher, for now

Moody's boosts 2023 outlook, sees slowing in 2024

  • By: Staff
  • September 11, 2023 September 11, 2023
  • 13:23
Europe flag and stacks

Europe’s economic outlook worsens as high prices plague consumer spending

The European Commission lowered its growth forecast for this year and next

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BoC likely done raising interest rates, despite job gains last month: economists

Overall economic trends point to a slowdown

World currency

Poland bank governor says large interest rate cut justified by falling inflation

The central bank cut its reference rate from 6.75% to 6%