The warning signs: Eight charts to watch as Canada flirts with recession

The warning signs: Eight charts to watch as Canada flirts with recession

On several fronts, things are getting worse for Canada’s economy. Growth is petering out. The labor market is shedding jobs. And inflation is far too high. In turn, a growing number of domestic banks are projecting Canada will slip into recession by next year. The mood soured on Wednesday as the US Federal Reserve projected … Read more

Jittery markets? Just wait ’til QT really kicks in

Jittery markets?  Just wait ’til QT really kicks in

If global investors really care about the amount of money central banks are about to withdraw from the world economy then rising official policy rates are only the half of it. World markets got crushed this week after US inflation data prompted a dramatic repricing of how high and how fast the Federal Reserve’s interest … Read more

Interest rate hike to ‘intensify’ Canada’s housing market downturn

Interest rate hike to ‘intensify’ Canada’s housing market downturn

Homes for sale in Ajax, Ont., on Sept 7. In the Toronto region, the home price index declined nearly 16 per cent from March to August, with some of the city’s suburbs losing more than 20 per cent.Fred Lum/The Globe and Mail Canada’s real estate slump is about to deepen, as the rising cost of … Read more

An eight-pack of dos and don’ts for surviving and profiting in a world of rising interest rates

An eight-pack of dos and don’ts for surviving and profiting in a world of rising interest rates

Canada’s epic moment of fast-rising interest rates came in 1980. A quick recap of events from back then: The Captain & Tennille had one of the year’s big hits, the Blues Brothers was a top-grossing movie and Canadian diplomats helped six US embassy staff escape from Iran. If these cultural and historical references don’t sound … Read more

Canada’s economic growth lags expectations, but unlikely to determine another big BoC rate hike

Canada’s economic growth lags expectations, but unlikely to determine another big BoC rate hike

Canada’s economic growth wasn’t as strong as expected in the second quarter and appears to have decelerated in July, signs that rising interest rates are cooling economic activity sooner than many forecasters anticipated. Softening growth, however, is unlikely to determine the Bank of Canada from another oversized interest rate hike when it makes its monetary-policy … Read more

Cheap flights, interest rate forecasts and uncovering Uber’s union scheme: The business and investing stories you need to know about this week

Cheap flights, interest rate forecasts and uncovering Uber’s union scheme: The business and investing stories you need to know about this week

Travelers at Toronto Pearson International Airport’s Terminal 1, are photographed on May 25, 2022. Fred Lum/The Globe and Mail.Fred Lum/the Globe and Mail Getting caught up on a week that got away? Here’s your weekly digest of The Globe and Mail’s most essential business and investing stories, with insights and analysis from the pros, stock … Read more

What the GIC critics get wrong

What the GIC critics get wrong

Even at rates of 4 to 5 per cent, GICs are disrespected. Not so much by investors. The consulting firm McVay and Associates says balances in guaranteed investment certificates in the banking sector in June were 18.1 per cent higher than the same period last year. It’s more advisers and market strategists who are finding … Read more

Robert McLister: You’re unlikely to qualify for ultralow mortgage rates

Robert McLister: You’re unlikely to qualify for ultralow mortgage rates

Welcome to Mortgage Rundown, a quick take on Canada’s home financing landscape from mortgage strategist Robert McLister. Look online and you’ll see mortgage rates as low as 3.44 per cent for a five-year variable and 4.19 per cent for a five-year fixed. Seems like a steal, right? Especially in a world where the best deals … Read more

Inflation rate slows on falling gas prices, but rising rents, groceries put pressure on households

Inflation rate slows on falling gas prices, but rising rents, groceries put pressure on households

A commuter pumps gas into their vehicle at an Esso gas station in Toronto on June 15, 2021.Tijana Martin/The Canadian Press Canadian inflation slowed in July as consumers paid less for gasoline, but prices for many everyday items grew at faster rates, showing how cost-of-living pressures remain a threat to household budgets. The Consumer Price … Read more

Earth’s Days Are Mysteriously Getting Longer, Scientists Say

Earth’s Days Are Mysteriously Getting Longer, Scientists Say

Atomic clocks, combined with precise astronomical measurements, have revealed that the length of a day is suddenly getting longer, and scientists don’t know why. This has critical impacts not just on our timekeeping, but also things like GPS and other technologies that govern our modern life. Over the past few decades, Earth’s rotation around its … Read more