Business Brief: What another rate cut would do to mortgages

I’ve made peace with the fact we are unlikely to develop a national strategy to ensure a predictable and more affordable: Will the slowing price of goods bolster the already strong likelihood the central bank will again cut its key lending rate next week? Will it lead to a more sizable impact on mortgage rates and new-car financing?

A poll of executives from 350 companies, conducted by accounting consultancy KPMG, found 56 per cent of responders suffered lower profit because ofis a growing business risk. In 2023, severe weather and natural disasters in Canada caused more than $3-billion in insured damage for the second year in a row, and wildfires, flooding and extreme heat are again wreaking havoc across the country, Jones writes. You can read his full storyAmanda’s Vineyards is a family-operated business near Picton, Ont.

While the first cut to the country’s key lending rate was notable for signalling a shift in the central bank’s approach, a second cut would have a greater impact, Rob CarrickInflation unexpectedly blipped higher in May, raising concerns that the Bank of Canada might not cut rates on July 24. But this week’s report on inflation in June showed the pace of price increases pulling back once again. As of mid-week, financial markets assessed a 91-per-cent likelihood of a rate cut coming up.

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