The Bank of Canada released the following statement on Wednesday: "The Bank of Canada today maintained its target for the overnight rate at 2.75%, with the Bank Rate at 3% and the deposit rate at 2.70%,” Reuters reported. “The major shift in direction of U.S. trade policy and the unpredictability of tariffs have increased uncertainty, diminished prospects for economic growth, and raised inflation expectations. Pervasive uncertainty makes it unusually challenging to project GDP growth and inflation in Canada and globally.
Resources Per Country
- Anguilla
- Bahamas
- Barbados
- Belize
- Bermuda
- British Virgin Islands
- Canada
- Cayman Islands
- Costa Rica
- Cuba
- Dominica
- Dominican Republic
- El Salvador
- Grenada
- Guadeloupe
- Guatemala
- Haiti
- Honduras
- Jamaica
- Mexico
- Montserrat
- Netherlands Antilles
- Nicaragua
- Panama
- Puerto Rico
- Saint Kitts and Nevis
- Saint Lucia
- Trinidad and Tobago
- Turks and Caicos Islands
- United States
- United States Virgin Islands
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The Canadian Real Estate Association has sharply downgraded its forecast for home sales in 2025 as buyers remain concerned about tariffs and interest rates, The Globe and Mail reported. The new 2025 forecast, which updates a prior forecast released Jan. 15, is CREA’s largest revision between quarters since the 2008-2009 financial crisis. CREA now expects 482,673 residential properties to trade hands in 2025, which would be virtually unchanged from 2024 levels. However, this is a large downward revision from the 8.6 percent sales increase predicted in January.
In the global trade war, Boeing is a big loser, The Wall Street Journal reported. Chinese officials told domestic airlines not to place new orders for Boeing jets and are requiring carriers to seek approval before taking delivery of already-ordered aircraft, according to people familiar with the matter. The tariff turmoil keeps getting worse for America’s largest exporter: Boeing’s vast and fragile supply chain is grappling with the end of its decades-long duty-free status. Boeing faces retaliatory tariffs from other countries.
Bally's Corp. considered waiting for Star Entertainment to enter voluntary administration before investing but feared the Australian casino group would have been too hard to rescue, said the U.S gaming firm's chairman, Soo Kim, Reuters reported. Rhode Island-based Bally's and the Mathieson family - Star's largest investor - engineered a A$300 million ($188 million) rescue package, handing over the first A$100 million last week. The initial funds will keep Star afloat for 15 months while seeking regulatory approval for the full investment, Kim said.
Volkswagen's truckmaker Scania said on Friday it had agreed to buy bankrupt Northvolt's division that makes battery packs for heavy industry, reviving a transaction first presented in February, for an undisclosed price, Reuters reported. Sweden's Northvolt filed for bankruptcy last month in one of the country's largest corporate failures, bringing to an end Europe's best hope of developing a rival to Asian electric vehicle battery makers.
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When Indian education-technology company Byju’s was ordered last year to freeze over $500 million as part of a U.S. court battle with its lenders, it said the funds were safely within the business, WSJ Pro Bankruptcy reported. Byju’s by that time had already moved the half-billion dollars out of the U.S. through transactions involving a little-known hedge fund that were obscured in financial statements showing the cash sitting in its accounts, court records show.
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Several businesses under the Sunterra banner, known in Alberta for its agriculture and high-end grocery operations, have taken steps toward creditor protection as three of its U.S. subsidiaries face legal and financial scrutiny, CBC.com reported. Late last month, Sunterra Quality Food Markets, Sunterra Food Corporation, Sunterra Farms, Trochu Meat Processors and Sunwold Farms all filed notices under the Bankruptcy and Insolvency Act, a process that gives financially strained companies 30 days of protection from creditors while they come up with a plan to restructure.
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Most of the Bank of Mexico's five governing board members agreed that the risks associated with U.S. President Donald Trump's tariffs will add uncertainty to the future path of inflation, minutes of its March 27 monetary policy decision showed on Thursday, Reuters reported. Inflation forecasts remain uncertain, the board members noted in the minutes, adding that although the balance of risks for the trajectory of inflation remains biased to the upside, it has improved. "The changes in economic policy by the new U.S. administration have added uncertainty to the forecasts," the minutes noted.
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E.U. officials announced on Thursday that they would delay their plans for retaliatory tariffs after President Trump’s abrupt decision to hit pause on some of the levies he had placed on Europe and much of the rest of the world, the New York Times reported. Mr. Trump’s announcement, a day before, had signaled what European leaders were hoping for: a possible willingness to negotiate. Washington’s pivot came just hours after European officials had approved retaliatory levies of 10 to 25 percent on about $23 billion of U.S. imports. But given the American shift in stance, E.U.
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The 25 percent tariff Canada began collecting on cars and trucks imported from the United States early Wednesday is not just the country’s latest act of retaliation against tariffs imposed by President Trump on Canadian exports, the New York Times reported. The estimated 8 billion Canadian dollars a year, about $5.7 billion, that those levies are expected to generate will also bankroll help for companies and workers now under economic threat from the United States. With no obvious or immediate end in sight to Mr.
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