Daily News

Economy Source: Financialpost February 01, 2025

Trump says he’ll place tariffs on Canada, Mexico and China on Saturday

U.S. president says he's considering a lower tariff rate of 10% on oilWASHINGTON — United States President Donald Trump said Friday he would place 25 per cent tariffs on imports from Canada and Mexico and 10 per cent tariffs on goods from China effective on...

Source: Financialpost January 31, 2025

Trump's 25% tariff vow sends Canadian dollar, Mexican peso tumbling

Currencies fall as U.S. president renews pledge to implement tariffs on Feb. 1President Donald Trump’s renewed pledges to slap 25 per cent tariffs on imports from Canada and Mexico on Feb. 1 jolted foreign exchange markets late in the New York trading sessio...

Source: Financialpost January 31, 2025

Variable mortgage rates catch up to fixed

Robert McLister: If Trump hurls a tariff thunderbolt at us this weekend, markets will have to rewrite their rate-cut timetablesFollowing our central bank’s latest quarter-point rate trim on Wednesday, Canada’s benchmark prime rate is down to 5.20 per cent. T...

Source: Financialpost January 31, 2025

Tariffs would have huge impact on housing market: Ron Butler

Watch: 'People are always going to be cautious about buying a house if they think their jobs could be in jeopardy,' broker saysRon Butler, broker with Butler Mortgage, talks with Financial Post’s Larysa Harapyn about how a trade war with the United States wo...

Source: Financialpost January 31, 2025

Trump says he will hit Canada, Mexico with 25% tariffs on Feb. 1

U.S. president stepped up his threat, adding that the tariff levels 'may or may not rise with time'United States President Donald Trump said he would follow through on his threat to impose 25 per cent tariffs on imports from Canada and Mexico on Feb. 1, citi...

Source: Financialpost January 30, 2025

Now retired, how do we withdraw funds without running out of money?

To provide their required income for life, Walter and Joanne would need about $1.8 million in investments, says adviserReviews and recommendations are unbiased and products are independently selected. Postmedia may earn an affiliate commission from purchases...

Source: Financialpost January 30, 2025

Interest rates 'still too high': What economists say about latest Bank of Canada move

Cuts lending rate 25 basis points to 3%The Bank of Canada cut its benchmark lending rate by 25 basis points to three per cent in a move that was widely expected by investors and economists, but what comes next is up in the air given the looming trade war wit...

Source: Financialpost January 30, 2025

Banks cut prime rate to 5.2%, following Bank of Canada's lead

Reduction brings more relief for variable-rate mortgage borrowersRoyal Bank of Canada, Toronto Dominion Bank, Canadian Imperial Bank of Commerce, Bank of Montreal, National Bank of Canada, Desjardins Group, Equitable Bank and Bank of Nova Scotia announced We...

Source: Financialpost January 30, 2025

Canada, Mexico can avoid tariffs with border action, Lutnick says

'If we are your biggest trading partner, show us the respect, shut your border,' says Trump's commerce nomineeUnited States President Donald Trump’s pick to lead the Commerce Department said Mexico and Canada can avoid new tariffs due this weekend if they cl...

Source: Financialpost January 30, 2025

Bank of Canada cuts interest rate to 3% amid trade uncertainty with the United States

Central bank warns economic consequences of a prolonged trade war could be severeThe Bank of Canada cut its policy interest rate by 25 basis points to three per cent on Wednesday, while warning that the economic consequences of a prolonged trade war with the...