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High stakes, narrow margins: Canada’s federal budget bets on investment-led growth

November 05, 2025 |Cynthia Leach, Robert Hogue, and Salim Zanzana
Overall, the story of Budget 2025 is as expected. There is big new spending and deficits that would be even larger without review savings. Buffers are slim against the two fiscal anchors of a balanced operating budget by 2028-29, and a declining deficit-to-GDP...
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BoC warns of structural economic damage from tariffs

October 29, 2025 |Claire Fan
The Bank of Canada delivered an expected 25 basis point rate cut today, lowering the overnight rate to 2.25%—the bottom of the neutral range that would not add to or subtract from inflation pressures over time. Beyond the rate cut itself, two themes stood...
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Canadian federal budget preview

October 27, 2025 |Cynthia Leach
A new playbook for balancing bigger government with fiscal health We believe the context and composition of government spending matter as much as the quantum. Cyclically, our outlook has Canada avoiding a recession from the current set of tariffs, but...
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Canada’s population growth slows even as outflows fall increasingly short of targets

October 02, 2025 |Cynthia Leach and Salim Zanzana
Canada's population growth continues to slow since tighter federal targets on permanent and non-permanent residents with Q2 marking the weakest quarterly growth since the pandemic. As of July 2025, the population reached 41.7 million, reflecting a year-over-year...
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Five disruptors to the U.S. economic cycle

September 18, 2025 |RBC Economics
The U.S. economy seems in many ways an anomaly. Interest rates are, by many measures, in “restrictive” territory, and yet the unemployment rate remains quite low. The U.S. is in the midst of a historic trade shock with 100-year high tariffs, but inflation...
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Canada’s housing markets are slowly but unevenly getting busier

Canada’s housing markets are slowly but unevenly getting busier

September 11, 2025 |Robert Hogue
There was further evidence of a recovery is taking hold in many housing markets across Canada in August, but local price trends still varied considerably with declines continuing in affordability-challenged areas where inventory has piled up. Early reports...
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Are U.S. tariffs accomplishing their goals?

August 20, 2025 |Claire Fan

The trade war remains in its early stages, with U.S. tariff revenues trailing behind announcements into the summer. Nevertheless, import tariffs collected as a share of U.S. imports have already risen to their highest level since the 1940s.

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Video: Explore the connection between wealth, health and aging

Video: Explore the connection between wealth, health and aging

August 12, 2025 |DA Marketing

Watch a group of leading healthy aging specialists discuss why planning for health, wellness and finances together matters.

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Lower prices and growing confidence keep Canada’s housing market recovery intact in June

Lower prices and growing confidence keep Canada’s housing market recovery intact in June

July 28, 2025 |Robert Hogue
Canada’s housing market showed further signs of recovery in June with home resales picking up for a third straight month on a monthly basis. But, prices remained lower overall with nationwide declines largely driven by softening in Ontario and British...
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House prices diverge across Canadian markets

House prices diverge across Canadian markets

July 14, 2025 |Robert Hogue
More prospective homebuyers are making their way back to Canada’s housing markets as some trade war fog dissipates—but it’s far from a stampede. Local real estate board statistics indicate transactions increased modestly between May and June in several...
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