Weekly Digest – 7 February 2024

Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy.

Interest rates won’t solve housing problems, Macklem says

While the Bank of Canada continues to grapple with the high cost of housing in its quest to tamp down inflation, the governor of the central bank is telling lawmakers that monetary policy isn’t going to fix affordability issues in the market.

A portrait of small business in Canada: Adaption, Agility, All at once

The Canadian Chamber of Commerce’s Business Data Lab (BDL) released its latest report entitled, A Portrait of Small Business in Canada: Adaption, Agility, All At Once, which explores the integral role small businesses play in Canada’s economy and sheds light on how these businesses can thrive despite major economic forces working against them — including the rising cost of doing business, the highest borrowing costs in over two decades and increased pandemic debt loads.

Why a strong U.S. economy might delay rate cuts in Canada

Tailwinds from south of the border could give a lift to the Canadian economy and end up pushing back the timeline for interest rate cuts as the Bank of Canada tries to keep pace with the United States Federal Reserve, some economists say.

Canadian businesses share outlook on economy, it’s not great

Canadian businesses are not feeling optimistic about the near term outlook for the economy, according to two separate polls.

Canada braces for possible wave of business bankruptcies

Thousands of Canadian small businesses face the risk of bankruptcy after the government ended pandemic-era support last month with the economy slowing at a time of high interest rates.

Doing business in Australia: Opportunities for Canadian exporters

Export Development Canada (EDC) believes Australia is a great location for Canadian companies looking to establish a foothold in the Indo-Pacific and learn the ropes of doing business halfway around the world.

Business matters: Economy picked up steam at end of 2023

Canada’s economy snapper a streak of straight growth in November and showed signs of gaining steam heading into the end of 2023, Statistics Canada says.

Canada’s economy got a lift late last year. Why that might delay rate cuts

Canada’s flatlining economy showed signs of life heading into the end of 2023.  While data released from Statistics Canada Wednesday indicates the country may have avoided a recession, the bad news is that might push back the timeline for interest rate cuts.

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