AGP Executive Report
Last update: 2 hours agoMonetary Policy: The Bank of Canada raised its key rate by a quarter-point to 2.5%, its first hike since 2023. Governor Tiff Macklem says elevated energy prices could spread inflation more broadly, limiting the Bank’s ability to look through the shock. Federal Budget: Finance Minister François-Philippe Champagne says the Nov. 5 budget will focus on changing Canada’s growth model, with tax measures for small businesses expected as firms face tariff pressures and manufacturing slips into contraction. Banking: Fairfax Financial’s proposed takeover of India’s IDBI Bank is drawing resistance from employees and politicians, who question the sale and its valuation. Institutional Investment: Blackstone and four Canadian pension investors agreed to invest US$3.1 billion for a 49.9% stake in LNG Canada’s holding company, backing the major energy expansion. Household Finance: More than half of self-employed Canadians surveyed say they used credit to cover everyday expenses, while many young adults worry their credit scores could block major financial goals.
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