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CanadianBankNews - 2026-07-12
Canada's housing supply shortage remains a long-term affordability issue. Even when rates move or sales slow, new construction, zoning reform, labour capacity and project financing still shape how quickly homes can be added.
- Housing supply is an affordability issue, not only a real estate market issue.
- Construction delays, approvals and financing can limit how quickly new homes are built.
- First-time buyers should compare affordability using current rates and realistic monthly costs.
Read fixed guideCanadianBankNews - 2026-07-11
RBC Avion Rewards is our No. 1 overall pick for Canadian bank loyalty because it offers a broad major-bank ecosystem and flexible travel-oriented redemption choices, but the best program depends on how each Canadian earns and redeems rewards.
- RBC Avion is the strongest overall program for flexible travel and redemption choice.
- Scene+, TD Rewards, CIBC Aventura and BMO Rewards are worth comparing.
- Cash back may be better than points for readers who want simple dollar value.
Read fixed guideCanadianBankNews - 2026-07-12
If scammers drain your account, your bank's responsibility depends on whether the transaction was unauthorized, whether you protected credentials, how quickly you reported it, and what the investigation finds.
- Unauthorized fraud and authorized payment scams are treated differently.
- Report suspicious activity to your bank immediately and keep the case number.
- If you disagree with the bank's decision, escalate through the bank, then OBSI where eligible.
Read fixed guideGlobe and Mail - Business • 2026-07-15
The Bank of Canada maintained its overnight rate target at 2.25 per cent, despite headline inflation rising to 3.2 per cent, differentiating the current situati
AI summary
The Bank of Canada maintained its overnight rate target at 2.25 per cent, despite headline inflation rising to 3.2 per cent, differentiating the current situation from past inflationary periods by noting decreasing core inflation. While economic indicators like GDP and job gains show some recovery, concerns remain about excess capacity and a lack of response in interest-sensitive sectors like construction and manufacturing. The article suggests a potential need for an interest rate cut to stimulate demand, but this hinges on distinguishing between cyclical and structural economic issues to avoid reigniting inflation.
Key takeaways
- Bank of Canada held interest rates steady at 2.25%.
- Headline inflation rose to 3.2%, exceeding the bank's target range.
- Core inflation is decreasing, suggesting temporary drivers for headline inflation.
Globe and Mail - Business • 2026-07-15
The Bank of Canada maintained its benchmark interest rate at 2.25%, citing an improving economic outlook and fading oil-driven inflation risks. While economic g
AI summary
The Bank of Canada maintained its benchmark interest rate at 2.25%, citing an improving economic outlook and fading oil-driven inflation risks. While economic growth is expected to gain momentum, Governor Tiff Macklem cautioned that uncertainty remains high due to volatile oil prices and geopolitical developments. The central bank's base-case scenario is to remain on hold, but potential interest rate hikes or cuts are possible depending on future economic conditions.
Key takeaways
- Bank of Canada holds interest rate steady at 2.25%.
- Economic outlook is cautiously optimistic, with growth expected to resume.
- Oil price volatility remains a key factor influencing future rate decisions.
Globe and Mail - Business • 2026-07-15
The Bank of Canada faces a growing credibility challenge as inflation is increasingly influenced by factors beyond its control, leading to a disconnect between
AI summary
The Bank of Canada faces a growing credibility challenge as inflation is increasingly influenced by factors beyond its control, leading to a disconnect between official data and Canadians' lived experiences. Stakeholder consultations revealed concerns about the politicization of the bank and a perception that its communications are not tailored to the public. To rebuild trust, the bank is advised to use plainer language and more accessible explanations of its decisions.
Key takeaways
- Inflation is influenced by uncontrollable supply shocks.
- Canadians perceive a disconnect with official inflation data.
- Plain language and accessible communication are key for trust.
Globe and Mail - Business • 2026-07-15
The Bank of Canada maintained its key interest rate at 2.25%, balancing concerns over inflation driven by oil prices against a weakening economy. Governor Mackl
AI summary
The Bank of Canada maintained its key interest rate at 2.25%, balancing concerns over inflation driven by oil prices against a weakening economy. Governor Macklem indicated that interest rate hikes remain a possibility if elevated oil prices lead to broader and persistent inflation. While variable mortgage rates have held steady, fixed mortgage rates are increasing due to rising Government of Canada bond yields influenced by U.S. economic conditions and inflation expectations.
Key takeaways
- Bank of Canada holds interest rate at 2.25%.
- Rate hikes possible if oil prices cause persistent inflation.
- Fixed mortgage rates are rising, variable rates stable.
Globe and Mail - Business • 2026-07-15
Canadian housing markets in the Prairies and Maritimes are experiencing slowing price growth and declines, mirroring trends seen in Toronto and Vancouver, with
AI summary
Canadian housing markets in the Prairies and Maritimes are experiencing slowing price growth and declines, mirroring trends seen in Toronto and Vancouver, with immigration cuts cited as a significant factor. Cities like Halifax are seeing year-over-year home value declines, while Edmonton and Regina have moved from price growth to stagnation. The Canadian Real Estate Association has further downgraded its national sales forecast for the year.
Key takeaways
- Prairie and Maritime housing markets show slowing price growth.
- Immigration cuts are impacting housing demand in several Canadian cities.
- National housing sales forecast has been downgraded by CREA.
Financial Post - Banking • 2026-07-15
Canadian banks, including RBC, CIBC, Scotiabank, TD, BMO, and National Bank, are supporting the newly launched Defence, Security and Resilience Bank (DSRB), an
AI summary
Canadian banks, including RBC, CIBC, Scotiabank, TD, BMO, and National Bank, are supporting the newly launched Defence, Security and Resilience Bank (DSRB), an international financial institution headquartered in Canada. The DSRB aims to mobilize private capital for defence spending, with NATO members targeting increased military expenditures. This initiative seeks to shift defence spending away from national budgets and into a collective international framework.
Key takeaways
- Canadian banks are backing the new Defence, Security and Resilience Bank.
- The DSRB aims to fund increased military spending by NATO members.
- The bank seeks to move defence costs out of national budgets.
Globe and Mail - Business • 2026-07-14
The union representing striking Bank of Canada security guards alleges the central bank is violating a labour board order by continuing to use replacement worke
AI summary
The union representing striking Bank of Canada security guards alleges the central bank is violating a labour board order by continuing to use replacement workers. This follows a breakdown in negotiations over worker benefits, leading to a strike that has impacted the bank's operations, including the cancellation of a press lockup for an upcoming interest rate decision. The Bank of Canada maintains it has complied with the labour board's directive.
Key takeaways
- Union alleges Bank of Canada uses replacement workers despite order.
- Strike impacts Bank of Canada's operational procedures.
- Upcoming interest rate decision expected to be unchanged.
Financial Post - Banking • 2026-07-14
Aging water and wastewater infrastructure across Canada is significantly hindering new housing construction, leading to project delays and increased costs for d
AI summary
Aging water and wastewater infrastructure across Canada is significantly hindering new housing construction, leading to project delays and increased costs for developers. Municipalities are imposing moratoriums on new developments due to insufficient capacity in their water and wastewater systems, preventing thousands of housing units from reaching the market. These infrastructure deficits, estimated to require billions in upgrades, are becoming a major obstacle to addressing Canada's housing demand.
Key takeaways
- Aging water and wastewater systems are a major constraint on Canadian housing construction.
- Municipalities are issuing moratoriums on new developments due to infrastructure capacity limits.
- Infrastructure deficits add carrying costs for developers, potentially increasing housing prices.
Globe and Mail - Business • 2026-07-13
The Bank of Canada is widely expected to maintain its overnight rate at 2.25% this week, holding steady amidst concerns about weak economic growth and rising oi
AI summary
The Bank of Canada is widely expected to maintain its overnight rate at 2.25% this week, holding steady amidst concerns about weak economic growth and rising oil prices. While geopolitical tensions are impacting oil prices, broader inflation pressures have not yet significantly spread to other consumer expenses. In the U.S., upcoming inflation reports and ongoing Middle East conflict are influencing expectations for Federal Reserve interest rate decisions.
Key takeaways
- Bank of Canada expected to hold interest rates steady.
- Oil price increases not yet causing widespread inflation.
- U.S. inflation data and Middle East conflict influencing Fed policy.
Financial Post - Banking • 2026-07-13
Economists anticipate the Bank of Canada will maintain its overnight interest rate at 2.25% for the sixth consecutive meeting, citing a sluggish economy and per
AI summary
Economists anticipate the Bank of Canada will maintain its overnight interest rate at 2.25% for the sixth consecutive meeting, citing a sluggish economy and persistent global uncertainties. While headline inflation rose due to energy prices, core inflation remains stable, and the central bank is monitoring potential spillover effects. Elevated recession risks persist, influenced by trade policy uncertainty and geopolitical events.
Key takeaways
- Bank of Canada expected to hold interest rates steady.
- Economic uncertainty and sluggish growth are key factors.
- Core inflation remains stable despite energy price hikes.
Globe and Mail - Business • 2026-07-12
The Bank of Canada is widely expected to hold its policy interest rate at 2.25% for the sixth consecutive time, as moderating oil prices and positive economic d
AI summary
The Bank of Canada is widely expected to hold its policy interest rate at 2.25% for the sixth consecutive time, as moderating oil prices and positive economic data ease previous monetary policy dilemmas. Recent economic indicators, including GDP rebound and a lower unemployment rate, suggest the economy is stabilizing, moving away from recession concerns. While the Bank of Canada anticipates a steady rate, ongoing geopolitical risks and trade policy uncertainty present potential challenges to the economic outlook.
Key takeaways
- Bank of Canada expected to hold interest rates steady.
- Economic data shows signs of stabilization.
- Geopolitical and trade uncertainties remain.
Financial Post - Banking • 2026-07-11
Canadian officials are widely expected to maintain the key interest rate at 2.25% in July, balancing inflation pressures from global trade and Middle East confl
AI summary
Canadian officials are widely expected to maintain the key interest rate at 2.25% in July, balancing inflation pressures from global trade and Middle East conflicts. June existing home sales and housing starts may indicate a continued gradual recovery in the housing market. Meanwhile, US inflation data will be closely watched for clues on the Federal Reserve's July policy decision.
Key takeaways
- Bank of Canada expected to hold key rate at 2.25% in July.
- Canadian housing market showing signs of gradual recovery.
- US inflation data to influence upcoming Federal Reserve decision.
Globe and Mail - Business • 2026-07-08
The Canada Industrial Relations Board has ordered the Bank of Canada to cease using replacement workers during a strike by its security officers, citing a contr
AI summary
The Canada Industrial Relations Board has ordered the Bank of Canada to cease using replacement workers during a strike by its security officers, citing a contravention of the Canada Labour Code. This decision aligns with recent federal legislation banning replacement workers in federally regulated workplaces. The Bank of Canada stated it will comply with the order once security measures are re-established.
Key takeaways
- Bank of Canada ordered to stop using replacement workers.
- Decision cites contravention of Canada Labour Code.
- Order aligns with federal ban on replacement workers.
Globe and Mail - Business • 2026-07-08
National Bank of Canada has agreed to acquire Truvera Trust Corporation, a British Columbia-based estate and trust planning firm. The financial terms of the acq
AI summary
National Bank of Canada has agreed to acquire Truvera Trust Corporation, a British Columbia-based estate and trust planning firm. The financial terms of the acquisition were not disclosed, but National Bank stated it will not materially impact its financial position. This move is intended to bolster National Bank's presence in Western Canada and enhance its wealth management services.
Key takeaways
- National Bank is acquiring Truvera Trust Corporation.
- Acquisition aims to expand Western Canada presence and wealth management.
- Financial terms of the deal were not disclosed.
Financial Post - Banking • 2026-07-08
Canada's largest banks have seen their share prices rise and Fitch Ratings upgrade its outlook to neutral, driven by higher-than-expected profits in the first h
AI summary
Canada's largest banks have seen their share prices rise and Fitch Ratings upgrade its outlook to neutral, driven by higher-than-expected profits in the first half of 2026. Resilient Canadian households, particularly prime borrowers, have managed debt well, leading to lower-than-anticipated impaired loan losses for the banks. Increased efficiency through digitization and cost-cutting measures, alongside strong capital markets performance, have also contributed to the banks' improved financial standing.
Key takeaways
- Big Six bank shares rose significantly in early 2026.
- Fitch Ratings upgraded Canadian banks' outlook to neutral.
- Household resilience and bank efficiency boosted earnings.
Globe and Mail - Business • 2026-07-07
Nine countries, including Canada, have committed to supporting the new Defence, Security and Resilience Bank (DSRB), aiming to provide low-cost financing for de
AI summary
Nine countries, including Canada, have committed to supporting the new Defence, Security and Resilience Bank (DSRB), aiming to provide low-cost financing for defence projects by 2027. Major European partners like Germany and Britain have not yet joined, with Britain suggesting a merger with its own defence financing initiative. The DSRB's development is spurred by increased global defence spending commitments among NATO allies.
Key takeaways
- Nine countries are backing Canada's new multinational defence bank.
- Major European partners like Germany and Britain are absent.
- The bank aims to begin operations by 2027.
Globe and Mail - Business • 2026-07-07
Canadian banks offer a variety of loyalty programs, with redemption options that can include travel, merchandise, statement credits, and even mortgage payments.
AI summary
Canadian banks offer a variety of loyalty programs, with redemption options that can include travel, merchandise, statement credits, and even mortgage payments. These programs have become increasingly complex, with varying point values and redemption structures across institutions. Understanding these programs is crucial for consumers to maximize the value of their spending and rewards.
Key takeaways
- Loyalty programs offer diverse redemption options, including travel and mortgage payments.
- Program complexity varies, impacting consumer value and understanding.
- Maximizing rewards requires understanding earning rates and redemption values.
Financial Post - Banking • 2026-07-07
Michaels has undergone a significant turnaround under Apollo's ownership, marked by strategic acquisitions and store re-imagining to enhance customer experience
AI summary
Michaels has undergone a significant turnaround under Apollo's ownership, marked by strategic acquisitions and store re-imagining to enhance customer experience. The company's bonds have recovered significantly, and first-quarter sales and adjusted EBITDA showed double-digit growth. While leverage remains a credit consideration, positive free cash flow is projected for 2026.
Key takeaways
- Michaels' bonds recovered from distressed levels to near par.
- The company reported double-digit growth in sales and EBITDA.
- Positive free cash flow is anticipated for 2026.
Globe and Mail - Business • 2026-07-06
A Bank of Canada survey indicates that a recent oil price shock negatively impacted Canadian business and consumer sentiment, leading to trimmed sales outlooks
AI summary
A Bank of Canada survey indicates that a recent oil price shock negatively impacted Canadian business and consumer sentiment, leading to trimmed sales outlooks and expectations of higher prices. While businesses reported increased input costs and inflation expectations, subsequent developments like a peace deal have seen oil prices decline and inflation expectations ease. Despite these concerns, export outlooks are improving and investment intentions remain strong across various sectors.
Key takeaways
- Oil price shock affected business and consumer sentiment.
- Businesses reported higher input costs and inflation expectations.
- Export outlooks are improving, and investment intentions are strong.
Globe and Mail - Business • 2026-07-06
Canada's services economy contracted in June, reaching a four-month low due to geopolitical uncertainty and elevated prices impacting demand. The services Busin
AI summary
Canada's services economy contracted in June, reaching a four-month low due to geopolitical uncertainty and elevated prices impacting demand. The services Business Activity Index fell below 50, indicating a contraction, while new business and outlook confidence also declined. This slowdown in the services sector, alongside persistent high food inflation, contributed to a dip in the overall composite PMI.
Key takeaways
- Services economy contracted in June.
- Geopolitical uncertainty and high prices dampened demand.
- Composite PMI declined due to services sector weakness.
Financial Post - Banking • 2026-07-06
The federal ban on foreign home ownership in Canada is set to expire in six months, with real estate professionals hoping it will not be renewed. Record high st
AI summary
The federal ban on foreign home ownership in Canada is set to expire in six months, with real estate professionals hoping it will not be renewed. Record high standing inventory and a lack of new condominium project launches in the Greater Toronto-Hamilton Area highlight current market challenges. Economists suggest that while the ban's impact is incremental, other factors like interest rates and domestic demand are more significant drivers of housing affordability.
Key takeaways
- Foreign buyer ban on housing set to expire soon.
- Housing market faces record high inventory.
- Interest rates and domestic demand are key market drivers.
Globe and Mail - Business • 2026-07-06
Canadian banks, including CIBC and others excluding TD and BMO, are joining the Canadian Association of Defence and Security Industries (CADSI) in record number
AI summary
Canadian banks, including CIBC and others excluding TD and BMO, are joining the Canadian Association of Defence and Security Industries (CADSI) in record numbers, driven by anticipated federal government spending increases in defence. This surge in membership reflects growing interest from various stakeholders, including financial institutions and academic bodies, in the defence sector. The trend is also linked to increased access to industry events and government decision-makers facilitated by CADSI membership.
Key takeaways
- Canadian banks are increasing membership in defence industry association.
- Federal defence spending is a key driver for this trend.
- Membership provides access to government and industry networking.