Canada’s real estate market could face renewed pressure if the Bank of Canada raises interest rates, with mortgage and lending experts warning that higher borrowing costs could discourage homebuyers and push house prices lower. The central bank has not raised interest rates since July 2023. While it is expected to keep its benchmark rate unchanged for an eighth consecutive decision, many economists and traders believe rate hikes could be on the horizon as policymakers seek to contain inflation. The Bank of Canada’s policy rate has remained at 2.25% since a 0.25-percentage-point cut in Octo

The rising cost of living in Canada is forcing more people to rely on food banks, with usage reaching an all-time high. According to Food Banks Canada’s 2026 HungerCount report, a record 2.35 million visits were recorded in March alone. The annual report shows that food bank visits increased by nearly 9 per cent compared with last year and by more than 117 per cent since 2019. It also found that one in five food bank users is employed. Food Banks Canada CEO Kirstin Beardsley said many people who were previously able to manage small financial setbacks are now struggling to make ends meet. She

The chances of Canada and the United States reaching a trade deal before the U.S. midterm elections on November 3 have effectively faded. Canadian government officials have reportedly told industry groups in recent weeks that no resolution is expected before the elections, as the White House remains focused on campaigning. Canadian Trade Minister Dominic LeBlanc also confirmed in an interview that the federal government is not expecting a deal before the midterms. However, he said he remains in regular contact with his U.S. counterpart and assured that Canada will continue exploring opportunit

Canadian Prime Minister Mark Carney will depart this evening for a three-day visit to Turkey. During the trip, Carney will meet Turkish President Recep Tayyip Erdoğan in Ankara and business leaders in Istanbul. This marks the first bilateral visit to Turkey by a Canadian prime minister. Carney’s visit comes amid growing concerns over human rights in Turkey, where LGBTQ and HIV advocacy organizations are reportedly facing systematic targeting. Members of Turkey’s LGBTQ community are said to be living in fear following violent police actions earlier this week. According to senior federal of

Canada’s federal budget will be presented on November 5, Finance Minister François-Philippe Champagne has officially announced. He confirmed the date during Question Period in the House of Commons on Tuesday. The budget will be the second fall budget under Prime Minister Mark Carney’s Liberal government. The announcement comes as Canadian businesses continue to face the impact of U.S. tariffs and Canada’s retaliatory measures. Champagne indicated that the budget would include several measures aimed at strengthening Canada’s economy and making it more independent. He said the budget wo

Air Canada has introduced a new non-refundable fee of $30 for each passenger when booking tickets through the airline’s telephone call centre. The charge is applied per passenger, meaning a family of four booking a flight through the call centre will have to pay an additional $120. However, the fee does not apply to bookings made through the airline’s website or mobile app. Air Canada said the move is intended to allow call centre agents to focus on passengers who need personalized assistance with reservations, travel disruptions or other travel-related issues. The airline clarified that t

Canada’s Parliamentary Budget Officer (PBO) has lowered its economic growth forecasts for 2026 and 2027, citing the impact of tariffs imposed by U.S. President Donald Trump and Canada’s retaliatory measures. According to the federal budget watchdog’s latest report, Canada’s real GDP is expected to grow by 0.9 per cent in 2026 and 1.5 per cent in 2027. The PBO had previously forecast growth of 1.1 per cent for 2026 and 1.6 per cent for 2027 in June. The report also projects an increase in Canada’s budget deficit following the breakdown of trade negotiations between Canada and the Unit

Canada’s two-year measles outbreak has officially been declared over, with the Public Health Agency of Canada confirming that no new cases of the virus have been reported in the past two months. The outbreak began in New Brunswick in October 2024 and quickly spread across 10 Canadian provinces and territories, infecting a total of 6,417 people. Ontario and Alberta were among the hardest-hit provinces. The outbreak also resulted in the deaths of two newborn babies who were infected during pregnancy. According to the Public Health Agency of Canada, most people who contracted the disease were u

Economists believe the Bank of Canada could raise interest rates by the end of 2026 following the release of the country’s September inflation figures. According to Statistics Canada, the annual inflation rate climbed to 3.1 per cent, driven by higher oil and gas prices, moving above the Bank of Canada’s target range of 1 to 3 per cent. However, underlying inflation has eased, offering some relief to the central bank. Ongoing trade tensions with the United States and the crisis in the Middle East could put further upward pressure on inflation. According to KPMG Canada, the Bank of Canada i