The Canadian Dollar (CAD) remains relatively unchanged during the current trading session, continuing to operate within the range established prior to the holiday break. According to Scotiabank’s Chief FX Strategist, Shaun Osborne, several factors contribute to the CAD’s recent performance and its limited potential for a rebound in the near term. USD/CAD Outlook: Resistance and Continue reading
Kathy Hilton
First Canadian Border Preclearance Facility in the U.S. Set to Open Near Ontario
As Toronto prepares for its new border checkpoint, enabling travelers to complete U.S. customs preclearance before departing for the United States, Canada is making strides in cross-border efficiency with a groundbreaking milestone. The Canada Border Services Agency (CBSA) has announced the opening of its first-ever preclearance operation on U.S. soil, scheduled for 2025, with a Continue reading
What Economists Predict for the Bank of Canada in 2025
Economists at Canada’s major banks predict a less dramatic shift in interest rates in 2025 compared to 2024. However, various economic factors are expected to create new challenges for Canadians and the broader economy. A Look Back at 2024: Significant Rate Cuts Defined the Year In 2024, the Bank of Canada (BoC) implemented five rate Continue reading
How Much is CPP going up in 2025?
The Canada Pension Plan (CPP) rate increases are essential adjustments made annually to ensure that benefits keep pace with the cost of living. These increases are determined by the Consumer Price Index (CPI) and are legislated under the Canada Pension Plan Act to protect the purchasing power of beneficiaries. When Are CPP Rate Increases Applied? Continue reading
Start Fresh A Step-by-Step Guide to Revamping Your Finances for the New Year
As we step into 2025, simply copying and pasting your previous year’s budget won’t be enough to achieve your financial goals. Experts emphasize the need for a fresh approach to budgeting and planning to navigate the ever-changing financial landscape. Why You Need a New Plan “Things don’t stay the same. Prices keep going up,” said Continue reading
Food Prices Could Rise by Up to 5% in 2025, and Experts Cite the Loonie as a Factor
An annual report on food prices in Canada is forecasting continued increases in grocery costs for 2025. The Food Price Report, released Thursday, predicts significant price jumps in certain categories, including meat and vegetables, as well as higher costs for dining out. However, the report also notes that some food prices in 2024 were lower Continue reading
Quebec Halts Financial Incentives for EV Purchases
The Quebec government has announced a temporary suspension of subsidies for electric vehicle (EV) purchases under the Roulez vert program. The suspension will take effect from February 1 to April 1 next year due to insufficient funds in the program. Here’s everything you need to know about the impact of this decision. Temporary Halt on Continue reading
Owen Sound Resident Scores $1 Million Lottery Win
An Owen Sound resident has struck it big in the lottery, taking home an impressive $1 million prize. Barry Anstett, a 56-year-old lottery enthusiast, claimed the Triple Millions top prize during the August 29, 2024, main draw. A Dedicated Lottery Player Barry Anstett has been playing the lottery with the Ontario Lottery and Gaming Corporation Continue reading
New Year Brings Higher Fees, Taxes, and Utility Rates for British Columbians
As the new year begins, Canadians face various financial changes, from higher Canada Pension Plan (CPP) contributions to adjustments in tax brackets and BC Hydro fees. Here’s a breakdown of the key updates you need to know to plan your finances effectively. Higher Tax Brackets for 2025 To offset inflation, income tax brackets will increase Continue reading
USD/CAD Dips to Around 1.4350 as Oil Prices Continue to Climb
The USD/CAD pair has halted its two-day rally, trading at approximately 1.4370 during the Asian trading hours on Thursday. This downside correction in the pair is mainly attributed to a retreat in the US Dollar, following its recent surge. The US Dollar Index (DXY), which measures the US Dollar’s strength against six major currencies, is Continue reading