Bank of Canada Seen Cutting Rates Again as Inflation Worries Fade

The Bank of Canada is likely to cut interest rates for a third consecutive meeting, as officials try to engineer a soft landing for the economy and inflation worries fade, Bloomberg News reported. Markets and economists widely expect policymakers led by Tiff Macklem to lower the benchmark overnight rate to 4.25% on Wednesday. The key question is whether officials will talk about the longer-range outlook, now that the US Federal Reserve is ready to move and forecasters are expecting a series of rate cuts stretching well into next year.
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Canada Credit Card Balances Highest on Record, Equifax Says

Canadian credit card holders carried over C$4,300 ($3,200) in balances on average in the second quarter, according to Equifax Canada, marking the highest level since the agency began collecting the data in 2007, Bloomberg News reported. A high interest-rate environment and rising unemployment are straining borrowers, especially younger Canadians, the credit bureau warned in a report released Tuesday. Consumer debt levels topped C$2.5 trillion last quarter, jumping 4.2% from a year earlier.
Canada
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P.E.I.'s Guardian, Journal Pioneer Expected to Publish as Usual as Postmedia Sale Finalized

Staff at The Guardian and Journal Pioneer say they have been assured the newspapers will continue to publish as usual under their new owner, CBC.ca reported. The Guardian, based in Charlottetown, currently publishes on Tuesday through Friday, with a weekend edition on Saturdays. The Summerside-based Journal Pioneer operates as a weekly print publication. Postmedia reported Monday it had successfully closed the $1-million deal to acquire the P.E.I. newspapers, as well as several others in the Atlantic region, from SaltWire. SaltWire, which also owned The Halifax Herald Ltd.
Canada
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