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Toronto Star
20 hours ago
- Politics
- Toronto Star
‘Rage' survey shows the politician Canadians are most angry about
A person holds up a sign as protesters gather before the start of the G7 summit in Calgary on June 15, 2025. DAVE CHIDLEY AFP via Getty Image
Toronto Sun
04-06-2025
- Business
- Toronto Sun
Bank of Canada set for interest rate decision as tariff uncertainty persists
Published Jun 04, 2025 • 1 minute read Canada Central Bank Governor Tiff Macklem speaks during the close of the G7 Finance Ministers and Central Bank Governors' Meeting in Banff, Alberta, on May 22, 2025. Photo by DAVE CHIDLEY / AFP via Getty Images OTTAWA — The Bank of Canada is set to make an interest rate decision today as the United States' trade dispute continues to cloud the economic outlook. This advertisement has not loaded yet, but your article continues below. THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY Subscribe now to read the latest news in your city and across Canada. Unlimited online access to articles from across Canada with one account. Get exclusive access to the Toronto Sun ePaper, an electronic replica of the print edition that you can share, download and comment on. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Support local journalists and the next generation of journalists. Daily puzzles including the New York Times Crossword. SUBSCRIBE TO UNLOCK MORE ARTICLES Subscribe now to read the latest news in your city and across Canada. Unlimited online access to articles from across Canada with one account. Get exclusive access to the Toronto Sun ePaper, an electronic replica of the print edition that you can share, download and comment on. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Support local journalists and the next generation of journalists. Daily puzzles including the New York Times Crossword. REGISTER / SIGN IN TO UNLOCK MORE ARTICLES Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account. Share your thoughts and join the conversation in the comments. Enjoy additional articles per month. Get email updates from your favourite authors. THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK. Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account Share your thoughts and join the conversation in the comments Enjoy additional articles per month Get email updates from your favourite authors Don't have an account? Create Account A poll of economists provided by LSEG Data & Analytics ahead of the decision shows they expect the central bank will leave its policy rate unchanged at 2.75 per cent. The central bank decided to hold its key rate steady at its last meeting in April, saying at the time that it needed more clarity on how the Canada-U.S. trade dispute would impact the economy. Statistics Canada said Friday that real gross domestic product topped expectations in the first quarter of the year as businesses rushed to get ahead of the tariff impact. The Bank of Canada said in April it would be less forward-looking for the time being and did not publish a central forecast for inflation and economic growth amid the considerable uncertainty. Annual inflation cooled to 1.7 per cent in April, dragged down by the removal of the consumer carbon price even as underlying inflationary pressures ticked higher. Columnists Sunshine Girls Crime Sunshine Girls Other Sports
Toronto Sun
23-05-2025
- Business
- Toronto Sun
Canada recession has already begun as trade war rages on, economists say
Published May 23, 2025 • 2 minute read Canada Central Bank Governor Tiff Macklem speaks during the close of the G7 Finance Ministers and Central Bank Governors' Meeting in Banff, Alberta, on May 22, 2025. Photo by DAVE CHIDLEY / AFP via Getty Images Canada's economy is likely in the early stages of a recession, according to forecasters, as unemployment rises and exports fall because of a trade war with the US. This advertisement has not loaded yet, but your article continues below. THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY Subscribe now to read the latest news in your city and across Canada. Unlimited online access to articles from across Canada with one account. Get exclusive access to the Toronto Sun ePaper, an electronic replica of the print edition that you can share, download and comment on. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Support local journalists and the next generation of journalists. Daily puzzles including the New York Times Crossword. SUBSCRIBE TO UNLOCK MORE ARTICLES Subscribe now to read the latest news in your city and across Canada. Unlimited online access to articles from across Canada with one account. Get exclusive access to the Toronto Sun ePaper, an electronic replica of the print edition that you can share, download and comment on. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Support local journalists and the next generation of journalists. Daily puzzles including the New York Times Crossword. REGISTER / SIGN IN TO UNLOCK MORE ARTICLES Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account. Share your thoughts and join the conversation in the comments. Enjoy additional articles per month. Get email updates from your favourite authors. THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK. Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account Share your thoughts and join the conversation in the comments Enjoy additional articles per month Get email updates from your favourite authors Don't have an account? Create Account Economists surveyed by Bloomberg say output will shrink 1% on an annualized basis in the second quarter and 0.1% in the third quarter, a technical recession. Exports are tumbling — they will drop 7.4% on an annualized basis in the current quarter, forecasters estimate, after President Donald Trump's tariff threats caused US importers to pull forward their shipments earlier in the year. But exporters should be able stage a modest recovery, starting later in the year. The trade dispute with Canada's closest trading partner is hitting the labor market and household consumption. Economists now say unemployment will rise to 7.2% in the second half of the year before easing in 2026. They expect inflation to run above the central bank's target, at 2.1% in the third quarter and 2.2% in the fourth. Your noon-hour look at what's happening in Toronto and beyond. By signing up you consent to receive the above newsletter from Postmedia Network Inc. Please try again This advertisement has not loaded yet, but your article continues below. That puts the Bank of Canada in a difficult position, with now a less than 30% probability of a change to interest rates at its June meeting, according to Bloomberg's World Interest Rate Probability. 'The more we can get uncertainty down, the more we can be more forward-looking as we move forward in our monetary policy decisions,' Bank of Canada Governor Tiff Macklem said on Thursday. Businesses and consumers are waiting for more clarity on what the US relationship looks like before making major decisions. That uncertainty has contributed to a notable slowdown in the housing market, with home prices and sales falling. Economists say housing starts may be weaker in the second half of 2025 than in the second quarter. This advertisement has not loaded yet, but your article continues below. 'I know Canada is keen to sit down with the US and work through our differences and come to an agreement,' Macklem said. 'If we can get that clarity, we can get back to growth. Clearly if things move in the other direction, yes, it will be worse.' RECOMMENDED VIDEO Prime Minister Mark Carney will get another chance to meet with Trump soon, with the US president set to make his first trip to Canada since returning to power when he attends the G-7 leaders' summit in Alberta in June. But Carney has warned that the long period of deepening integration between the two countries is over. Economists see gross domestic product rising 1.2% in 2025 and 1% in 2026. Those figures are in line with the previous Bloomberg survey. The survey of 34 economists was conducted from May 16 to May 21. Canada Toronto Maple Leafs Sunshine Girls Editorial Cartoons Toronto & GTA
