(Editor's note: This post has been updated with the latest from the federal government's fall economic statement) Chrystia Freeland’s resignation as Canada’s finance minister highlights increasing uncertainty in the country's political environment as financial challenges loom in 2025. Reaction was ... READ MORE >
finance
Bank of Canada cuts interest rate to 3.25% as focus shifts to gap with U.S.
The Bank of Canada lowered its interest rate to 3.25 per cent — an overdue move out of restrictive territory given that inflation has largely been tamed. Expect more rate cuts in early 2025 to get the economy onto an expansionary trajectory. The policy rate should come down to 2.75 per cent within the ... READ MORE >
Asset management firms are optimistic on Q3 earnings calls as private asset demand rises
Optimism was a major theme in asset management firms’ third-quarter earnings calls, transcripts show. Firms mostly focused on increasing inflows and fee revenues, as well as growing their assets under management in Q3; some even reported the best results in their history. Driving the optimistic ... READ MORE >
As financing costs surge, the real economy faces a reckoning: Rising loan costs are squeezing middle market firms
As the era of easy money and low-cost financing ends, middle market businesses are facing a reckoning. Rising real interest rates are pushing up the cost of commercial and industrial loans, making it harder for these firms to meet payrolls and finance their expansion, according to a new survey from RSM ... READ MORE >
Financial services update: Q4 banking, AI-powered funds, regulatory proposals
In the latest installment of our monthly financial services update, we take a look at banking results from the fourth quarter of 2022, artificial intelligence-powered funds, and two regulatory proposals. Q4 banking results The bank failures of early March have changed the landscape for financial ... READ MORE >
Financial services update: NIM growth, fintech recap, nonbank financial institution oversight
In the first installment of our monthly financial services update, we take a look at how financial institutions can sustain net interest margin growth, how fintech finished out 2022 and a rule proposed by the Consumer Financial Protection Bureau to create a registry of nonbank financial ... READ MORE >
Top 5 fintech trends to watch—now, and in the future
The fintech movement is driving a rapid evolution within financial services, resulting in a new infrastructure and platform for the industry’s next generation. Investment in fintech companies has soared in the past three years, topping $118.2 billion globally in 2021, which surpassed the previous two ... READ MORE >
Already hot ‘buy now, pay later’ space gets a big boost from Amazon
Amazon, which has been slowly adding financial services products to its portfolio, has entered the hot “buy now, pay later” space. Last Friday, the e-commerce giant announced its partnership with Affirm, a buy-now-pay-later platform that allows customers to pay for purchases in installments. This ... READ MORE >