Weekly Digest – 03 July 2024

Weekly Digest – 03 July 2024

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

Why the Bank of Canada will wait until September for its next cut

Dawn Desjardins, chief economist at Deloitte Canada, talks with Financial Post’s Larysa Harapyn about how the Bank of Canada‘s interest-rate cuts may unfold and how the Canadian economy and housing market will perform this year and next.

Canada’s GDP grew 0.3% in April, with rebound in some sectors

Canada’s economy grew 0.3 per cent in April, helped by strength in several industries, including wholesale trade, oil and gas extraction and manufacturing, Statistics Canada said. The data matched expectations as analysts polled by Reuters had forecast 0.3 per cent GDP growth in the month, after zero growth in March.

Economic recovery in Canada will be slow

For three years now, Canada’s economy has been like a train freighted with debt, inflation and high interest rates chugging uphill. Inflation followed by the cure for inflation — higher interest rates — have slowed everything down, and only now is the peak in sight. Provided it’s a not a false summit, Canada’s economy may be slowly turning a corner, according to an economic outlook from Deloitte.

The future of business immigration to Canada: trends and predictions

As of June 2024, several emerging trends and predictions are shaping the landscape of business immigration to Canada. These developments are driven by technological advancements, policy changes, global economic shifts, and the evolving needs of the Canadian economy.

Digital Service Tax: A threat to productivity and innovation?

The Ontario Chamber of Commerce’s (OCC) President and CEO, Daniel Tisch, released a statement raising significant concerns with specific provisions for a new Digital Service Tax (DST) included in the passage of Bill C-59.

Canadian economy shows signs of recovery amid persistent challenges

Canada’s economy is stabilizing with declining inflation, but investment and productivity hurdles remain. According to Deloitte’s summer economic forecast, the Canadian economy is beginning to settle down after three years of upheaval.

Consideration of government of Canada’s proposal to remove 30% rule for pension funds

Canada’s 2024 federal budget announced a working group to explore how to influence greater domestic investment opportunities for Canadian pension funds, including the removal of the 30% rule for domestic investments. The modification of the 30% rule, which limits the investment of Canadian pension funds in companies, has been considered by prior provincial and federal governments without any changes implemented. This article briefly explores how the context has changed both for Canadian pension funds, as global investment leaders seeking to maximize returns for their members, and the Canadian government, seeking to increase domestic investment to boost its economy.

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