Excess global imbalances are widening again, with risks of an economic disruption heightened by an increasing share of financial activity being conducted outside of the regulated banking sector, says Canada's top central banker.
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The move aims to boost lending as the government seeks to lure investment to kick-start the economy.
Sunway MCL—the Singapore-based developer controlled by Malaysian billionaire Jeffrey Cheah—and its partner China's CSC Land Group placed the highest bid for a prime residential site near the city-state's main shopping district, amid booming property demand in one of the world's most expensive real estate markets.
The Bank of Canada left its policy rate unchanged at 2.25%, with Gov. Tiff Macklem saying this marked the best approach to addressing the dual-side risks of a weak economy and higher energy prices.
Canada's goods-trade surplus with the world widened to the biggest in more than a year as shipments of crude oil and vehicles to the U.S. drove exports to record high.
Canada's labour market surged in May, with the economy adding 87,800 jobs and the unemployment rate falling to 6.6%, well above analyst expectations and marking the strongest monthly performance since late 2024, according to Bank of America's reading of Statistics Canada's latest Labour Force Survey. The result far exceeded consensus forecasts of 10,000 net new positions, and BofA's own estimate of 7,000.
The Canadian Tech Growth Fund will offer flexible capital and investment support, while also providing a platform for Ottawa to at times take equity stakes in the most promising AI firms.
Activity in Canada's services industry picked up slightly last month despite a fall in new business and ongoing economic uncertainty.
iShares MSCI Canada ETF is upgraded to a buy, leveraging strong momentum, compelling valuation, and technical strength despite a technical recession in Canada. EWC trades at a low 16.4x P/E with a 15.5% long-term earnings growth rate, yielding an attractive PEG ratio just above 1. The ETF's heavy Financials, Materials, and Energy exposure, plus favorable interest policy and metals momentum, underpin its outperformance versus the S&P 500.
The U.S. decision to suspend planned biannual defense talks with Canada follows deepening concern that Ottawa is failing to take steps to become a "credible" security partner, including by hiking military spending and completing a review of an F-35 fighter jet acquisition, a Pentagon official said on Thursday.
Manufacturing shipments increased 3% from the month before to a seasonally adjusted C$73.57 billion, the highest level since the start of 2025.