Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy.
Inflation slows down, making a strong case for the Bank of Canada to cut interest rates.
Canada’s inflation rate is steadily declining, bringing it closer to the Bank of Canada’s 2 percent target. This consistent drop suggests that inflationary pressures are easing, which is a positive sign for the overall stability of the economy.
As inflation nears the target, the central bank is now under increased pressure to consider cutting interest rates again next month. A rate cut could further support economic growth and ensure that inflation remains in line with the Bank’s goals.
More men and women of working age are claiming EI benefits.
Recent data shows that more men and women in Canada’s working-age population are receiving unemployment benefits. This trend highlights an increase in the number of people relying on Employment Insurance as the job market faces challenges.
According to Statistics Canada, the number of men aged 25 to 54 who received regular Employment Insurance benefits rose by nearly 13 percent in June compared to the same time last year. This significant increase points to growing economic concerns for this age group.
Microsoft and cybersecurity companies will meet after a CrowdStrike outage.
Microsoft Corp. is planning a meeting next month with key cybersecurity companies that work closely with its Windows systems. The goal of this meeting is to discuss strategies to prevent a repeat of last month’s worldwide computer crash.
The crash had significant global impacts, prompting Microsoft to collaborate with these cybersecurity firms. Together, they aim to strengthen their systems and enhance security measures to avoid similar incidents in the future.
Canada real estate: Housing is becoming more affordable as the income needed to buy a home decreases.
Housing affordability improved nationwide in July as mortgage rates eased, thanks to the Bank of Canada softening its monetary policy. This shift has provided some relief to potential homebuyers across the country.
An analysis by Ratehub.ca found that the minimum income required to buy an average-priced home decreased in the 13 markets studied from June to July. According to the report, this is the first time affordability has improved since January.
Canada’s latest consultation shares insights on tariffs, trade, and economic security
Canada has launched a new consultation that provides valuable insights into the country’s approach to tariffs, trade, and economic security. This consultation aims to gather input from various stakeholders to help shape policies that will strengthen Canada’s economic position.
The insights gained from this process will guide the government in addressing current and future challenges related to international trade and economic security. By focusing on these areas, Canada seeks to enhance its economic resilience and competitiveness on the global stage.
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