Canada has the highest level of household debt in the G7, making its economy vulnerable to a global economic crisis, according to the country’s housing agency. In an analysis published Tuesday, Canada Mortgage and Housing Corp. deputy chief economist Aled ab Iorwerth said that the country’s household debt has been rising “inexorably” due to rising…

Despite fierce criticism from the Liberals, the Parliamentary Budget Officer (PBO) stands by his analysis of the government’s Clean Fuel Regulations (CFR), which finds that Canada’s lower-income households will bear a greater burden in terms of disposable income due to the increased costs associated with the policy. The CFR aims to reduce carbon emissions from fossil…

Statistics Canada says the amount Canadian households owe relative to their income rose in the third quarter. The agency says household credit market debt as a proportion of household disposable income increased to 183.3 percent on a seasonally adjusted basis in the third quarter compared with 182.6 percent in the second quarter. In other words,…

Once burning-hot Canadian house prices are expected to tumble a total 17.5% from their peak, roughly double the fall during the 2008-09 financial crisis, in a slowdown already well underway, according to a Reuters poll of market experts. A succession of rapid-fire Bank of Canada interest rate rises that has taken the overnight rate from…

MPs unanimously passed legislation today to temporarily double GST rebates to help low- and modest-income Canadians, and the bill will now be sent to the Senate. The federal government has been facing political pressure for months to deliver relief to Canadians who are dealing with rising inflation. Once the bill becomes law, people who are…