The federal government has approved millions of dollars in temporary interest rate relief for farmers to help them recoup higher-than-usual production costs rising as a result of inflation. “Canadian producers have been facing higher costs of production brought on by general inflation,” Agriculture and Agri-Food Canada, the federal agriculture department, wrote in a Regulatory Impact Analysis…
Canada Approves Millions in Temporary Interest Rate Relief for Farmers as Inflation Hedge
Liberals Propose Regulation of Payday Loans With Cap on Borrowing Rates: Budget 2023
The federal government proposing to regulate payday loans by placing a cap on borrowing rates, according to the 2023 budget. Released on March 28, Budget 2023 categorizes lenders who offer loans at “very high interest rates” as “predatory lenders.” As first reported by Blacklock’s Reporter, the budget said these lenders “can take advantage” of low-income…
Canada’s 2023 Federal Budget Coming March 28: Finance Minister Chrystia Freeland
Finance Minister Chrystia Freeland says she will table the 2023 federal budget on March 28. The Canadian economy is expected to slow significantly this year and potentially enter a recession as high interest rates squeeze the budgets for individuals and businesses alike. Freeland has stressed that the Liberal government is focused on fiscal restraint, so…
Experts Tipping December Interest Rate Rise
The Reserve Bank governor has left his options open ahead of the final cash rate decision of the year, with experts leaning towards another rate rise for December. Speaking on a panel of central bankers on Friday, Philip Lowe said it was possible to execute a soft landing for the economy. “But it’s going to be…
‘Better to Do Too Much Than Not Enough’: RBA Governor Rationalises Interest Rate Hikes
November 27, 2022
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AustraliaBusiness & Marketseconomic policieseconomyhigh interest ratesinflationphilip lowerecessionReserve Bank of AustraliaWorld
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The governor of the Reserve Bank of Australia (RBA) has apologised to Australians for higher interest rates as a result of the inflationary effects of COVID-19 stimulus but noted the package was a risk that was worth taking. Speaking at a Senate Estimates hearing in Canberra on Nov. 28, RBA Governor Philip Lowe said he…
Mortgage Application Pace Plunges to 25-Year Low as Housing Recession Deepens
October 5, 2022
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Business & Marketseconomyhigh interest rateshousing recessionMarketsmortgage applicationsmortgage ratesmortgage refinancereal estaterecessionUSUS NewsUS Real Estate
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The pace of mortgage applications has fallen to a multi-decade low amid high housing interest rates, according to the latest data from the Mortgage Bankers Association (MBA). The Market Composite Index, a measure of mortgage loan application volume, declined by 14.2 percent on a seasonally adjusted basis for the week ended Sept. 30, 2022, compared…
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