1 in 3 Canadians expect BoC to drop rates in June
One in three Canadians expect the Bank of Canada to start cutting interest rates at the June 2024 interest rate announcement, according to an Angus Reid survey. This comes as many Canadians feel the pinch of high borrowing costs and are looking for some financial relief. "It's clear that higher rates have done their job: Cooling consumer spending significantly and helping to bring inflation down to much more manageable levels,” explains Martha Vallance, Chief Operating Office (COO) of Dye & Durham, a global legal software firm. Working with Angus Reid, Dye & Durham conducts a quarterly Canadian pulse survey designed to uncover trends and insights on sentiment surrounding the economy, technology and the real estate market.
One in three Canadians expect the Bank of Canada to start cutting interest rates at the June 2024 interest rate announcement, according to an Angus Reid survey. This comes as many Canadians feel the pinch of high borrowing costs and are looking for some financial relief. "It's clear that higher rates have done their job: Cooling consumer spending significantly and helping to bring inflation down to much more manageable levels,” explains Martha Vallance, Chief Operating Office (COO) of Dye & Durham, a global legal software firm. Working with Angus Reid, Dye & Durham conducts a quarterly Canadian pulse survey designed to uncover trends and insights on sentiment surrounding the economy, technology and the real estate market.
New Canadians face unique financial challenges
New Canadians – regardless of their citizenship status – may face unique challenges in comparison to longer-term residents, according to a new survey from the Canadian Credit Union Association (CCUA). "These insights reveal the unique financial challenges faced by new Canadians, highlighting the critical role of tailored financial services that cater specifically to their needs," Jeff Guthrie, CCUA president and CEO, said. These disparities between newer and older residents often come down to financial stability and planning.
New Canadians – regardless of their citizenship status – may face unique challenges in comparison to longer-term residents, according to a new survey from the Canadian Credit Union Association (CCUA). "These insights reveal the unique financial challenges faced by new Canadians, highlighting the critical role of tailored financial services that cater specifically to their needs," Jeff Guthrie, CCUA president and CEO, said. These disparities between newer and older residents often come down to financial stability and planning.
Canada sees surge of support for buying local
A new Interac survey shows nearly all – nine in 10 – Canadians say supporting local Canadian businesses is important to them. Only slightly less, eight in 10, agree that buying Canadian feels more important than it did last year, due to the trade tensions caused by the US. "Amid the current climate of economic uncertainty and evolving tariff threats, Canadians are looking at their spending in a new light," Debbie Gamble, Interac’s group head, chief strategy and marketing officer, said in a statement. "Our survey results confirm that Canadians are very intentionally exercising their spending power – choosing to support local businesses even if they may need to spend more to do so. This trend has emerged despite longstanding cost-of-living pressures and demonstrates a powerful commitment to local communities." In fact, the ‘buy Canadian’ impulse is not weakened by pricier goods, with over half prepared to spend an extra $5 to buy a product locally. A third would pay $10 more.
A new Interac survey shows nearly all – nine in 10 – Canadians say supporting local Canadian businesses is important to them. Only slightly less, eight in 10, agree that buying Canadian feels more important than it did last year, due to the trade tensions caused by the US. "Amid the current climate of economic uncertainty and evolving tariff threats, Canadians are looking at their spending in a new light," Debbie Gamble, Interac’s group head, chief strategy and marketing officer, said in a statement. "Our survey results confirm that Canadians are very intentionally exercising their spending power – choosing to support local businesses even if they may need to spend more to do so. This trend has emerged despite longstanding cost-of-living pressures and demonstrates a powerful commitment to local communities." In fact, the ‘buy Canadian’ impulse is not weakened by pricier goods, with over half prepared to spend an extra $5 to buy a product locally. A third would pay $10 more.
Canadians back retaliatory tariffs against the US
Seventy percent of Canadians are in favour of dollar-for-dollar retaliatory tariffs on the United States as President Donald Trump remains steadfast in his plans to impose tariffs on Canada, one of our closest allies. This according to a new poll from Leger. Nearly half of respondents (45%) said they were strongly in favour of such tariffs, while 25% said they were somewhat in favour. In a statement, Sébastien Dallaire, Leger’s executive vice-president for Eastern Canada, said the robust support for retaliatory tariffs shows Canadians are not very happy with our southern neighbours. “It speaks to the level of anger on the part of Canadians, that they are willing for the government to take actions that in the end will hurt our pocketbook,” Dallaire said, noting how retaliatory tariffs might increase prices or make some products less available to consumers nationwide.
Seventy percent of Canadians are in favour of dollar-for-dollar retaliatory tariffs on the United States as President Donald Trump remains steadfast in his plans to impose tariffs on Canada, one of our closest allies. This according to a new poll from Leger. Nearly half of respondents (45%) said they were strongly in favour of such tariffs, while 25% said they were somewhat in favour. In a statement, Sébastien Dallaire, Leger’s executive vice-president for Eastern Canada, said the robust support for retaliatory tariffs shows Canadians are not very happy with our southern neighbours. “It speaks to the level of anger on the part of Canadians, that they are willing for the government to take actions that in the end will hurt our pocketbook,” Dallaire said, noting how retaliatory tariffs might increase prices or make some products less available to consumers nationwide.
Toronto's new home market: Should you buy now?
High interest rates have been the catalyst for a retreat in new and resale home purchases in Canada in recent years. But even as interest rates drop, homebuyers appear to be waiting on the sidelines rather than buying up ever-growing inventory. In fact, according to the latest data by The Toronto Regional Real Estate Board (TRREB), new home sales in the Greater Toronto Area (GTA) have hit record lows, signaling a significant shift in buyer confidence. Industry experts point to several factors contributing to this downturn, including higher borrowing costs, economic uncertainty and affordability concerns, which have left many potential buyers hesitant to enter the market. Meanwhile, builders and developers are increasing inventory, leading to more options but fewer transactions. TRREB reported a 26% increase in new listings from December 2024 and a substantial 48.6% rise compared to the previous year. Despite this, sales of new homes, including pre-construction condos and single-family houses, remain sluggish, reaching some of the lowest levels seen in recent history. “Buyers are clearly in a wait-and-see mode,” Jason Mercer, TRREB’s chief market analyst told the Toronto Star. “With more homes on the market and borrowing costs still relatively high, many are holding off, hoping for further price adjustments or interest rate cuts before making a decision.” Market analysts suggest that while increased inventory could present opportunities for buyers, many are waiting for further economic shifts before committing. If this trend continues, developers may be forced to offer incentives or adjust pricing strategies to stimulate demand.
High interest rates have been the catalyst for a retreat in new and resale home purchases in Canada in recent years. But even as interest rates drop, homebuyers appear to be waiting on the sidelines rather than buying up ever-growing inventory. In fact, according to the latest data by The Toronto Regional Real Estate Board (TRREB), new home sales in the Greater Toronto Area (GTA) have hit record lows, signaling a significant shift in buyer confidence. Industry experts point to several factors contributing to this downturn, including higher borrowing costs, economic uncertainty and affordability concerns, which have left many potential buyers hesitant to enter the market. Meanwhile, builders and developers are increasing inventory, leading to more options but fewer transactions. TRREB reported a 26% increase in new listings from December 2024 and a substantial 48.6% rise compared to the previous year. Despite this, sales of new homes, including pre-construction condos and single-family houses, remain sluggish, reaching some of the lowest levels seen in recent history. “Buyers are clearly in a wait-and-see mode,” Jason Mercer, TRREB’s chief market analyst told the Toronto Star. “With more homes on the market and borrowing costs still relatively high, many are holding off, hoping for further price adjustments or interest rate cuts before making a decision.” Market analysts suggest that while increased inventory could present opportunities for buyers, many are waiting for further economic shifts before committing. If this trend continues, developers may be forced to offer incentives or adjust pricing strategies to stimulate demand.
Many Canadians go to bed worrying about money
For many, getting a good night's sleep is beyond finding an ergonomic pillow or taking some melatonin. Financial stress is weighing heavily on Canadians, with a new survey revealing that 60.4% of respondents go to bed worrying about money. The survey, conducted by Harris & Partners, a Canadian debt relief company, highlights the growing anxiety surrounding personal finances and the emotional toll of managing debt. “Many Canadians feel trapped in a cycle of financial worry, where concerns about debt, bills, and future stability follow them throughout the day and into the night,” Joshua Harris, a licensed insolvency trustee at Harris & Partners said in a statement. “This kind of stress doesn’t just impact finances — it affects sleep, mental health, and overall well-being.”
For many, getting a good night's sleep is beyond finding an ergonomic pillow or taking some melatonin. Financial stress is weighing heavily on Canadians, with a new survey revealing that 60.4% of respondents go to bed worrying about money. The survey, conducted by Harris & Partners, a Canadian debt relief company, highlights the growing anxiety surrounding personal finances and the emotional toll of managing debt. “Many Canadians feel trapped in a cycle of financial worry, where concerns about debt, bills, and future stability follow them throughout the day and into the night,” Joshua Harris, a licensed insolvency trustee at Harris & Partners said in a statement. “This kind of stress doesn’t just impact finances — it affects sleep, mental health, and overall well-being.”
Canadians are divided on evolving payment tech
Canadians are divided on evolving payment technologies, according to a new study from Payments Canada. This involves technologies such as generative artificial intelligence (GenAI), social commerce and pay-by-bank. "Canadians prioritize security and privacy while also expecting ease and convenience in their shopping experience, particularly in the way they pay," Jon Purther, Payments Canada’s director research, said in a statement. "They seek innovations that strike a balance between these factors. However, Canadians are divided on the appeal of innovations that have the potential to reshape our shopping and payment experiences, with security being a key concern. In our study, we also found that many Canadians had not yet formed a view around their appeal, which infers that they are reserving judgment until they become more familiar with newer technologies." For example, 43% of Canadians are interested in leveraging GenAI, 44% are not interested and 13% are unsure.
Canadians are divided on evolving payment technologies, according to a new study from Payments Canada. This involves technologies such as generative artificial intelligence (GenAI), social commerce and pay-by-bank. "Canadians prioritize security and privacy while also expecting ease and convenience in their shopping experience, particularly in the way they pay," Jon Purther, Payments Canada’s director research, said in a statement. "They seek innovations that strike a balance between these factors. However, Canadians are divided on the appeal of innovations that have the potential to reshape our shopping and payment experiences, with security being a key concern. In our study, we also found that many Canadians had not yet formed a view around their appeal, which infers that they are reserving judgment until they become more familiar with newer technologies." For example, 43% of Canadians are interested in leveraging GenAI, 44% are not interested and 13% are unsure.
BC border shop sees 80% drop amid tariff threats
A British Columbia border shop is reeling from an 80% drop in business as trade tensions and shifting consumer loyalties shake its foundation. The owner, shocked by the abrupt decline, called the situation “unbelievable” and worries about the store’s future. “This has been our biggest issue for over 10 years,” Peter Raju, president and owner of Peace Arch Duty Free, told Retail Insider. “Our business is down substantially. We’ve had to reduce staffing and if things don’t improve, we’ll have to close on weekdays.”
A British Columbia border shop is reeling from an 80% drop in business as trade tensions and shifting consumer loyalties shake its foundation. The owner, shocked by the abrupt decline, called the situation “unbelievable” and worries about the store’s future. “This has been our biggest issue for over 10 years,” Peter Raju, president and owner of Peace Arch Duty Free, told Retail Insider. “Our business is down substantially. We’ve had to reduce staffing and if things don’t improve, we’ll have to close on weekdays.”
Canadian-owned and -made pet food guide
Trump’s tariff trade wars are all over the news, and you’re determined to shop Canadian. Well, you’ll be happy to hear that your furry family members can do their part. We’ve put together a comprehensive list of Canadian pet food brands that make it easier to make the switch. To be considered for this list, pet foods must not only be made in Canada, but also be Canadian owned. That means brands such as Acana and Royal Canin didn’t make our list — that’s because even though this food is made in Canada, the brands are owned by a US parent company (in this case, Mars). You can buy any of these pet foods directly from the manufacturers’ websites, but if you prefer brick and mortar stores, you can try shopping at Pet Valu. This pet store giant is Canadian-owned and operated. As well, most of the local boutique pet stores in your neighbourhood are also Canadian-owned and operated.
Trump’s tariff trade wars are all over the news, and you’re determined to shop Canadian. Well, you’ll be happy to hear that your furry family members can do their part. We’ve put together a comprehensive list of Canadian pet food brands that make it easier to make the switch. To be considered for this list, pet foods must not only be made in Canada, but also be Canadian owned. That means brands such as Acana and Royal Canin didn’t make our list — that’s because even though this food is made in Canada, the brands are owned by a US parent company (in this case, Mars). You can buy any of these pet foods directly from the manufacturers’ websites, but if you prefer brick and mortar stores, you can try shopping at Pet Valu. This pet store giant is Canadian-owned and operated. As well, most of the local boutique pet stores in your neighbourhood are also Canadian-owned and operated.
CIBC offers new banking option for tradespeople
Skilled trades make the nation's economic engine purr but that doesn't always mean they've been provided opportunities or advantages within the financial sectors. CIBC wants to change that with the introduction of a new bank account with an aim to support apprentices in the skilled trades. The CIBC Skilled Trades Banking solution will offer all apprentices in approved programs the opportunity for no-fee banking using the CIBC Smart Account. "CIBC recognizes the increasing importance that professionals in the skilled trades are bringing to the country and economy, and also understands that it takes an investment of time and money to become certified in a trade," said Jeff Smith, CIBC’s senior vice-president of client segmentation and franchising. "The Skilled Trades Banking solutions are unique and will help make career ambitions of skilled tradespeople more attainable – especially at a time when skilled trades workers are needed across the country." According to the CIBC press release, the Skilled Trades Banking solution is the first of its kind in Canada.
Skilled trades make the nation's economic engine purr but that doesn't always mean they've been provided opportunities or advantages within the financial sectors. CIBC wants to change that with the introduction of a new bank account with an aim to support apprentices in the skilled trades. The CIBC Skilled Trades Banking solution will offer all apprentices in approved programs the opportunity for no-fee banking using the CIBC Smart Account. "CIBC recognizes the increasing importance that professionals in the skilled trades are bringing to the country and economy, and also understands that it takes an investment of time and money to become certified in a trade," said Jeff Smith, CIBC’s senior vice-president of client segmentation and franchising. "The Skilled Trades Banking solutions are unique and will help make career ambitions of skilled tradespeople more attainable – especially at a time when skilled trades workers are needed across the country." According to the CIBC press release, the Skilled Trades Banking solution is the first of its kind in Canada.
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