Direct Loan Canada Blog

The Federal Reserve raising its key interest rate by three-quarters of a percentage point – its largest hike since 1994 – increases the odds of the Bank of Canada following suit next month, economists say.
Source: ctv business
Bank of Canada likely to mirror 0.75 per cent Fed hike next month: economists

The Federal Reserve on Wednesday intensified its drive to tame high inflation by raising its key interest rate by three-quarters of a point — its largest hike in nearly three decades — and signalling more large rate increases to come that would raise the risk of another recession.
Source: ctv business
U.S. Fed attacks inflation with its largest rate hike since 1994

As workplaces shift back to in-person or hybrid models, a new survey suggests nearly half of Canadian women would quit their jobs if asked to return to the office full time.
Source: ctv business
Nearly half of women would quit their jobs if required to go back to office, survey finds

Bill Gates called cryptocurrencies and NFTs are based on ‘greater fool theory’ at a TechCrunch conference, referencing the notion that investors can make money on worthless or overvalued assets as long as people are willing to bid them higher.
Source: ctv business
Bill Gates says crypto and NFTs are a sham

Russia’s Gazprom announced a reduction in natural gas flows through a key European pipeline for the second day in a row on Wednesday, hours after Germany’s vice chancellor said its initial move appeared to be political rather than a result of technical problems.
Source: ctv business
Russia reduces natural gas through European pipeline again

Ikea said Wednesday that it is seeking new owners for its four factories in Russia and to liquidate its product inventory there because of the war in Ukraine.
Source: ctv business
Ikea to sell inventory, find new owners of Russia business

A European Central Bank poised to raise interest rates for the first time in 11 years vowed Wednesday to create an unspecified market backstop that could buffer member countries against financial turmoil like that seen during a debt crisis more than a decade ago.
Source: ctv business
European Central Bank vows backstop against market turmoil

Canada’s housing market continued to cool last month with the country’s real estate association finding home sales dropped by nearly 22 per cent since last year and almost nine per cent between April and May.
Source: ctv business
May home sales down 22 per cent since last year, 9 per cent from April: CREA

Amid soaring inflation and the Bank of Canada increasing interest rates more aggressively relative to past tightening cycles, concerns about a possible recession are growing. A lacklustre stock market is adding fuel to the fire, as market declines tend to happen before a recession strikes.
Source: ctv business
How younger Canadians can prepare themselves for a potential recession

Stocks rallied on Wall Street Wednesday after the U.S. Federal Reserve hiked interest rates by the biggest margin since 1994, but also said such mega-hikes would not be common.
Source: ctv business
Stocks hold gains after U.S. Fed hikes rates to fight inflation