Canada's annual inflation rate slowed more than expected to 1.6 per cent in September, data showed on Tuesday, prompting markets to increase bets of a 50 basis point rate cut next week. The easing of inflation, which was mainly led by a huge drop in the price of gasoline, was the smallest annual increase in consumer prices since February 2021, Statistics Canada said.
Canada’s inflation eases to 1.6 per cent, increasing chances of 50 bps rate cut
Canada posts sixth straight monthly trade deficit in August
Farm, fishing and intermediate food product exports rose
Canada recorded a bigger-than-expected trade deficit of C$1.1 billion in August, its sixth consecutive monthly shortfall, as imports rose while exports declined, Statistics Canada data showed on Tuesday.
North American agriculture groups ask US, Canadian governments to stop rail strike
Nearly three dozen North American agriculture groups, in a joint letter to the U.S. and Canadian governments today, urged action to avoid a rail stoppage.
Canada rail companies and union must work hard to reach deal, says Ottawa
Canada's two main railway companies and the Teamsters union must do the hard work necessary to reach labor deals and avoid a full stoppage, federal Labour Minister Steve MacKinnon said on Monday.
Canada-wide freight rail stoppage looms this week as two firms issue lockout notices
Canada's freight rail network could come to a grinding halt this week, inflicting a huge economic toll after the country's two largest railroad operators on Sunday issued lockout notices to the Teamsters union that represents nearly 10,000 workers.
Industry and shippers brace for Canada rail stoppage, fear ‘catastrophe’
North American industry groups and shippers are bracing for an unprecedented simultaneous stoppage at both of Canada's main railway companies that could inflict billions of dollars' worth of economic damage.
Bank of Canada cuts rates, sees weaker economy in 2024
The Bank of Canada on Wednesday trimmed its key interest rate by 25 basis points for the second month in a row, bringing it to 4.5 per cent, and said more reductions in borrowing costs were likely if inflation continued to cool in line with forecasts.
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