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FILE PHOTO: A Canadian dollar coin, commonly known as the “Loonie”, is pictured in this illustration picture taken in Toronto, January 23, 2015.

REUTERS/Mark Blinch/File Photo

US government spending drives growth as Canada flatlines

The US economy is growing much faster than Canada’s – while north-of-the-border GDP has been flat for months, the Americans posted a 4.9% growth rate in the third quarter.

What accounts for the difference? Experts point to higher US spending – both public and private – as well as lower debt loads. Canadians carry the heaviest household debt in the G7. The country is also, of course, suffering from a brutal housing crisis that is showing no signs of abating.

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Bank of Canada Governor Tiff Macklem


Are Americans and Canadians in for a soft landing?

As hopes for dodging a recession grow amid continuing affordability struggles, central bankers in the United States and Canada may be settling into a familiar pattern of cautious optimism.

Annual inflation in Canada dropped to 3.8% in September, well above the 2% target. Yet, on Wednesday, the Bank of Canada released its decision to hold interest rates at 5%, citing “clearer signs that monetary policy is moderating spending and relieving price pressures.”

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"For Rent, For Sale" sign is seen outside of a home in Washington, U.S

Paige Fusco

Home sales slow down as mortgage rates bite

High mortgage rates are causing real-estate slowdowns in both the United States and Canada, raising worries about the broader economic impact – as well as hopes that central banks will stop hiking rates.

The number of existing home sales in the United States in August was the lowest since January, and the September numbers are expected to be lower still. The Wall Street Journal reports that sales are likely at a level not seen since the end of the 2008-2011 financial crisis.

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Silicon Valley Bank.


Super banker, we need you

Where have you gone, Joe Shuster? Our nation turns its banking eyes to you.

Joe Shuster? The Canadian-American who co-created the comic book hero Superman?

Yes, I’m thinking of Joe a lot these days – not just because he once lived on the same street in Toronto as I did (Borden Street, for those interested) but because, with Lex Putin’s apocalyptic tendencies, everyone is looking for a superhero. And we’re facing another tricky threat: the economy. Inflation is high, and banks are failing. So it may be time for a new hero: Super Banker.

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Ian Explains: Biden-Trudeau summit well worth the wait
- YouTube

Ian Explains: Biden-Trudeau summit well worth the wait

Joe Biden and Justin Trudeau finally met recently, two years after Biden came to office. The good personal vibes, as expected, were great, and the state of the US-Canada relationship is strong, though not perfect, Ian Bremmer explains on GZERO World.

The US president and the Canadian PM signed an agreement on asylum seekers, but other, thornier issues still need to be worked out.

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What Americans and Canadians agree — and disagree — on
What Americans and Canadians agree — and disagree — on | US-Canada Summit | GZERO Media

What Americans and Canadians agree — and disagree — on

Americans like to think: "Canadians are just like us." But many Canadians don't feel the same way about Americans.

Still, Americans and Canadians do mostly agree on a lot of things, as we know from recently polling by Maru Public Opinion for GZERO North.

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Trudeau lays out plan to grow Canada’s clean economy
Trudeau lays out plan to grow Canada’s clean economy | US-Canada Summit | GZERO Media

Trudeau lays out plan to grow Canada’s clean economy

On the heels of his recent meeting with US President Joe Biden in Ottawa, Canadian PM Justin Trudeau took to the stage at the US-Canada Summit in Toronto on Tuesday to woo Bay Street — Canada’s version of Wall Street — and voters with a clear message: The future is bright for Canadian (green) businesses and workers.

Referring to Biden’s Inflation Reduction Act, which been a source of friction over fears it’ll see investment flee south of the border, as a historic investment to fight climate change, Trudeau spotlighted his own plan to invest in the clean-energy economy.

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