News of the day: Bank of Canada expectations, renting

It’s Tuesday, Sept. 1. Here are the top stories we’re following today.

Bank of Canada expected to hold interest rates steady, but renewed trade war muddies economic outlook

Canadian economists largely expect the Bank of Canada to keep its overnight rate at 2.25 per cent for the rest of the year, but what policymakers might do in 2027 is less clear as the trade war muddies the country’s economic outlook.

Here’s how a growing pool of Canadians are paying off their mortgages

Alexis Levenson is part of a growing pool of homeowners using their extra space to pay off their mortgage. More than one-third of Canadians said they need to rent out part of their home to afford ownership, up from 25 per cent in 2021, according to a June report from Mortgage Professionals Canada.

It’s time for Canadian income tax rates to match those of the U.S.

Strong is a tax system that competes. Ours doesn’t, and pretending otherwise is the actual rupture. That’s the fix within our control, writes Kim Moody.

Canada’s immigration system needs to be reset in order to face ongoing economic challenges, says RBC

Canada’s immigration strategy has lost its edge, so rebuilding trust in the system is needed as Ottawa looks to reduce its reliance on the United States and pursue new economic goals, according to a new Royal Bank of Canada report.

Dominic Barton named chair of Invest in Canada after CEO resigns

The former Canadian ambassador to China Dominic Barton has been appointed as chair of Invest in Canada’s board of directors following the resignation of the federal agency’s chief executive.