Bank of Canada Gov. Tiff Macklem said Wednesday that it is possible the central bank’s preferred gauges of core inflation might be overstating how much prices are rising, the Wall Street Journal reported. Core inflation has accelerated above 3%, and central bank officials fear that firmer inflation could be stronger than they initially expected and could persist. The Bank of Canada sets rate policy to achieve and maintain 2% inflation.
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Canadian home sales notched their first gain since November, rising 3.6 percent between April and May, according to the Canadian Real Estate Association (CREA), the Financial Post reported. The increase was led by sales in the Greater Toronto Area, Calgary and Ottawa, CREA said in its latest housing report. “May 2025 not only saw home sales move higher at the national level for the first time in more than six months, but prices at the national level also stopped falling,” CREA senior economist Shaun Cathcart said in a release.
Canadian home sales notched their first gain since November, rising 3.6 percent between April and May, according to the Canadian Real Estate Association (CREA), the Financial Post reported. The increase was led by sales in the Greater Toronto Area, Calgary and Ottawa, CREA said in its latest housing report. “May 2025 not only saw home sales move higher at the national level for the first time in more than six months, but prices at the national level also stopped falling,” CREA senior economist Shaun Cathcart said in a release.
Canada recorded a 10% increase in insolvency filings in April compared to the previous month, reversing a trend of easing that began earlier in the year, MPAMag.com reported. The latest data from Innovation, Science and Economic Development Canada show that both consumer and business insolvencies contributed to the rise, with total filings reaching 11,950, up from 10,864 in March. The increase occurred during a period of economic uncertainty tied to slowing growth, trade policy concerns, and persistent cost-of-living pressures.
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4Front Ventures Corp., a vertically integrated cannabis operator, announces that, following its previously announced U.S. bankruptcy petition, that it has made an assignment into bankruptcy pursuant to the Canadian Bankruptcy and Insolvency Act, according to a company press release. B. Riley Farber has been appointed as the trustee in the Canadian Bankruptcy Proceedings. Further information may be obtained from the trustee at [email protected] or on the case webpage www.brileyfarber.com/engagements/4frontventures/.
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The financially struggling Cape Breton Farmers' Market Co-operative has filed for bankruptcy a year after getting into a dispute with its former landlord in downtown Sydney, Nova Scotia, CBC.ca reported. Last May, the co-operative's vendors were locked out of their space in the Old Triangle building after D. MacPhee Realty said it was owed $76,000 in back rent and property taxes. The market's manager at the time, Pauline Singer, told reporters it owed about $25,000 in property taxes it was supposed to pay to the landlord as part of the lease agreement.
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Canada prepared possible reprisals while the European Union reported progress in trade talks on Wednesday as new U.S. metals tariffs triggered more disruption in the global economy and added urgency to negotiations with Washington, Reuters reported. President Donald Trump's doubling of tariffs on steel and aluminum imports kicked in on Wednesday, the same day his administration sought "best offers" from trading partners to avoid other punishing import levies from taking effect in July. The move will hit the closest U.S. trading partners - Canada and Mexico - especially hard.
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The Bank of Canada left its main interest rate unchanged, at 2.75%, saying the economy has softened but not deteriorated, and inflation has picked up steam, the Wall Street Journal reported. Bank of Canada Gov. Tiff Macklem said officials expect second-quarter economic growth to be “much weaker” after a surprise 2.2% annualized increase in the first quarter that was buoyed by exports and inventories as companies rushed to purchase goods to avoid tariffs.
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