Despite good economic news, experts warn the pain’s not over yet
Global News
The return to two per cent inflation and forecasts for more interest rate cuts are being hailed as good news, but economists warn there's more to the picture.
Inflation is back at the coveted two per cent annual rate.
Wage hikes have outpaced inflation for 19 months in a row.
The Bank of Canada is three rate cuts into an easing cycle, with no signs of stopping anytime soon.
The recent run of positive economic news had the Liberal government — long challenged by an affordability crisis in Canada — celebrating in the House of Commons this week.
Finance Minister Chrystia Freeland on Tuesday hailed the August inflation report as “good news for Canadians” and the “light at the end of the tunnel” after years of surging prices and pandemic-related disruptions in the economy.
RBC assistant chief economist Nathan Janzen tells Global News that there’s indeed reason to celebrate as price stability shows signs of returning and the Bank of Canada unwinds from the most rapid tightening cycle in its history.
But he also warns that focusing on inflation and rate cuts may ignore economic pain looming for Canadians around the corner.
“Light at the end of the tunnel, silver lining, whatever the phrase you want to use is, it’s important to remember that what we’re seeing in terms of inflation and the interest rate cuts is a result of a softening Canadian economy,” Janzen says.
Police said they were called to the store, which is located on Rue De Liege in Montreal, around 6:30 p.m. on Sunday.
After telling customers in October that Dec. 31 would be the last day those forms of payment would be accepted, the TTC decided this month to extend it to June 1, 2025.
Venne, born in Lamont, Alta., was one of the first appointees to Alberta's Human Rights Commission in 1973 and later served as chair.
Maier, 27, completed 357 of 494 passes for 3,841 yards with 22 TDs and 14 interceptions last season.
Peel Regional Police have dismantled a sophisticated car theft ring, recovering nearly $4-million worth of stolen vehicles and laying over 100 criminal charges.
Governor Tiff Macklem indicated further cuts would be more gradual, a shift from previous messaging that continuous easing was needed to support growth.
Megan Claxton and Taylor Smyth expected their second child to arrive in January. They called 911 when she went into labour five weeks early. 'I didn't get a chance to thank them.'
Nova Scotia Lt.-Gov. Mike Savage has released the names of the five people appointed to the Order of Nova Scotia for 2024.
The money raised by Ed Video in January was a part of the $280 million raised through the site in Canada in 2024. Guelph was listed 11th out of 20 communities across the country.
Here is your guide for what services, attractions, major businesses and institutions are open and closed in Toronto on Christmas Eve, Christmas Day and Boxing Day.
Liberal MP Chrystia Freeland drew sharp criticism from two cabinet ministers for the way she quit cabinet but many backbenchers hope she succeeds Justin Trudeau.