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Honda’s EV deal, Bank of Canada’s rate cut timing and capital-gains tax hike concerns: Business and investing news for April 28

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Plus, Canada’s supermarkets are losing the battle for your grocery bill

Honda’s EV deal, Bank of Canada’s rate cut timing and capital-gains tax hike concerns: Business and investing news for April 28Prime Minister Justin Trudeau, left, walks the head of Honda Global, Toshihiro Mibe, centre, and Ontario Premier Doug Ford, right, as they tour the manufacturing line at Honda's plant in Alliston, Ont.

. The deal will expand the company’s Alliston, Ont., plant to manufacture electric vehicles and establish a stand-alone battery-manufacturing plant, as well as adding facilities for cathode materials and separator components. The governments say it is the largest ever single investment in Canada’s auto sector. Ottawa is expected to give Honda around $2.5-billion through tax credits, and Ontario has committed to providing up to $2.

, according to a Statistics Canada report published this week. The real gross domestic product per capita would need to grow at an average annual rate of 1.7 per cent to return to trend over the next decade. The report’s authors write that “per capita growth of this magnitude is ambitious and a marked departure from recent trends.” Canada’s declining economic performance on a per person basis has become a hot topic of discussion over the past couple of years.

that took place ahead of the April 10 rate decision shows the six-person council is becoming more confident that inflation is on a path back to the 2-per-cent target. This opens the door to interest-rate cuts in the coming months, Mark Rendell reports. According to Refinitiv data, financial markets put the odds of a June rate cut at around 45 per cent and the odds of a July rate cut at 80 per cent. The next Bank of Canada decision is on June 5.

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