Bank of Canada Says Impact of COVID on Economy Has “Peaked”
byIn response, the Bank has kept its key interest rate target on hold at 0.25%.
Finance
Commercial Rent Assistance Now Open for Small Businesses
byTo keep small businesses in operation and more people employed as the economy reopens.
Canadian GDP Dropped 8% in First Quarter in Wake of COVID
byHousehold spending in the first quarter also dropped by 2.3%, the steepest fall on record.
How Mortgage Applications Have Changed During COVID-19
byLenders are looking a lot more closely right now.
COVID Pushed Canadian Retail Sales to Lowest Level on Record in March
byNew data focusing on the second half of March has now been released.
Half of Canadian Small Businesses Will Not Be Able to Pay June Rent: Survey
byWithout further assistance from the government.
Over 42,000 Jobs Will “Vanish” in Toronto Due to COVID-19: Report
byHowever, Toronto’s economy is expected to rebound next year with GDP growth of 6.2%.
Fewer Canadians Seeking Debt Relief During COVID Crisis
byThough consumer insolvencies are expected to spike in the wake of the pandemic.
Emergency Wage Subsidy Program Being Extended Past June: Trudeau
byIn an effort to encourage more employers to re-hire staff and kick-start the reopening of the economy.
Nearly 2 Million Canadians Lose Their Jobs in April, Unemployment Rate Rises to 13%
byToronto has lost more than half a million jobs since February.