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Britain's new fiscal plan 'reckless,' says foreign exchange specialist
Britain's new economic plan to slash taxes and borrow money for programs will rack up a huge amount of new debt, says Jane Foley, head of foreign exchange strategy at Rabobank.
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Supply Chain is Still Top of Mind for Federal Reserve
Supply chain issues are still a top concern as today’s Federal Reserve meeting approaches.
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Canada's inflation rate slows to 7%
As Canada's inflation rate cooled to seven per cent in August, economist Brett House said he thinks the trend will continue. Food prices, however, are still climbing.
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Inflation rate cools, but not enough to bring down grocery prices
New numbers show Canada’s inflation rate dropped again to seven per cent in August, but grocery prices are still at their highest in decades.
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Bank of Canada hikes interest rates to 3.25%
The Bank of Canada hiked its interest rate again Wednesday in an attempt to reign-in runaway inflation, and signalled it likely would need to rise even further. It’s tough news for financially strapped Canadians already struggling under...
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Credit card debts hit 3-year high amid rising prices, data shows
Canadians may be turning to more to credit cards just to get by with balances hitting the highest level in three years, new data from Equifax shows. Between paying off high-interest costs and rising inflation not being met by a...
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BOC's big rate hike not the end, says economist
The Bank of Canada's 'aggressive' language along with its 75-basis-point boost in the bank rate sends the message that further interest rate hikes are ahead to bring down inflation, says Douglas Porter, chief economist for the Bank of...
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What the Signs Are for a Housing Recession
With home sales beginning to drop, some experts believe that we may be headed towards a housing recession. Nick Bailey, the president and CEO of RE/MAX LLC, joined Cheddar News to discuss the current housing climate and whether or not...
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Canadians still eager to spend, says BMO economist
Doug Porter, chief economist for Bank of Montreal, says there is 'still a bit of firepower' in Canadians' spending right now, despite the hit that higher interest rates have inflicted on the housing sector.
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Home Building Rates and Mortgage Demand Dramatically Drop While Costs Rise
The recent housing boom is showing signs of being in a slump. Kayla Bruun, an economic analyst at Morning Consult, joined Cheddar News to discuss the downward trend in the market. Construction data released this week showed home sales...
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Inflation and your wallet: 2018 vs. 2022
Armed with a stack of receipts from 2018, we hit the streets of Toronto to see just how much more expensive life is now and break down our findings with the CBC’s Peter Armstrong.
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'Normal' inflation likely 18 months away, personal finance writer says
Canada's annual inflation rate declined slightly in July to 7.6 per cent, but a return to normal inflation rates of two to three per cent is still about 18 months away, says personal finance writer Rubina Ahmed-Haq.
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Chancellor’s economic plans will reward ‘already wealthy’, warns Rachel Reeves
Liz Truss and Kwasi Kwarteng are two “desperate gamblers chasing a losing run” with an economic plan rewarding the “already wealthy”, according to shadow chancellor Rachel Reeves.The Labour frontbencher took aim at the Prime Minister and...
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Dow Posts Biggest Weekly Percentage Gain Since May
The Dow has posted its fourth straight winning week and the biggest weekly percentage gain since May. Adam Johnson, portfolio manager at Adviser Investments, joined Cheddar News to explain what drove gains on Wall Street this week.
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Meme Stocks Are Back With Bed Bath & Beyond
Bed Bath & Beyond has been the latest target of meme stock trading activity, and Barron's reporter Jacob Sonenshine joined Cheddar News to discuss what's behind the new rally and why it differs from the last Redditt-fueled mania. "The...
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CarParts.com Sees Record Earnings Despite Supply Disruptions, Inflation
David Meniane, CEO of aftermarket auto parts retailer CarParts.com, joined Cheddar News to talk about the company’s sales success attributed to its execution despite the supply chain disruptions around the world. "We offer a great...
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Federal Reserve Raises Interest Rates by 75 Basis Points
The federal reserve announced that it will be raising interest rates by 75 basis points. Chairman Jerome Powell called the rate hike "essential" to bringing down surging inflation.
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U.S. Stocks Close Near Session Highs Following Fed Decision
U.S. stocks closed near session highs following the Federal Reserve's decision to raise interest rates by three-quarters of a percentage point. The move led to the S&P 500 jumping 2.6%, the Dow Jones Industrial Average 1.4%, and the the...
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Report: Home Prices Cool at Record Pace in June Amid High Inflation & Mortgage Rates
Housing demand dropped significantly in June amid rising mortgage rates and inflation, which led to home prices cooling at a record pace. That's according to mortgage software, data and analytics firm, Black Knight. A new report from the...
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ECB hikes interest rates for first time in 11 years by larger-than-expected amount
The European Central Bank has raised interest rates for the first time in 11 years by a larger-than-expected amount, joining steps already taken by the US Federal Reserve and other major central banks to target stubbornly high inflation.
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Will the IPO Market Rebound in 2024? Here's What You Need to Know
As Amer Sports debuts at the NYSE, John Jannarone shares what’s behind the two-year slowdown in IPOs and what will be the key to successfully going public in 2024.
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'Did You Call Europeans Parasites?': Meloni's Direct Question To Trump | FULL BRIEFING
Donald Trump held a press conference with visiting Italian PM Giorgia Meloni on Thursday in the White House. During the briefing, Trump was asked by an Italian reporter if he called Europeans parasites. Meloni repeated the question in...
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Toronto, Vancouver home sales plunge in April
Home sales in Toronto and Vancouver dropped significant in April, a sign of rising interest rates cooling two of Canada’s red-hot housing markets.
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US Fed raises interest rates half-point in biggest hike since 2000
The central bank’s policy-making committee voted unanimously to increase the benchmark rate a half percentage point.