#canadian-economy

#canadian-economy

Federal efforts in Canada towards open banking are a game-changer but criticism exists over slow progress impacting innovation for smaller financial players. [ more ]

The federal government will cap annual alcohol excise tax increases at two per cent for two more years.

Tax relief for craft breweries with a halved excise duty rate on the first 15,000 hectolitres of beer. [ more ]

Canadian economy expanded at 1% in Q4 driven by exports, while housing and business investment fell.

Business insolvencies rose 41% in 2023 due to pandemic debt and high interest rates affecting consumer finances. [ more ]

Canadians have accumulated over $300 billion in savings during the pandemic, but the expected spending boost hasn't materialized yet.

Higher-income households have saved more money during the pandemic, while lower and middle-income households have spent much of what they saved. [ more ]

The Bank of Canada has decided to keep its benchmark interest rate steady at five percent.

The bank has been signaling that it may be nearing the end of its rate hiking cycle due to a slowdown in the Canadian economy. [ more ]