\n<\/p>\n
Breadcrumb Trail Links<\/p>\n
Timing of fiscal refresh unknown with some saying it could land post-Christmas as rumours ‘swirl’ it won’t come at all<\/p>\n
Published Dec 06, 2024<\/span> \u00a0\u2022\u00a0 Last updated 10\u00a0hours ago<\/span> \u00a0\u2022\u00a0 5 minute read<\/span><\/p>\n\n\n<\/button><\/p>\n\n\n\n\nYou can save this article by registering for free here. Or sign-in if you have an account.<\/p>\n<\/div>\n<\/div>\n<\/svg><\/button><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/source><\/source><\/source><\/source><\/source><\/picture>Prime Minister Justin Trudeau, Finance Minister Chrystia Freeland and cabinet ministers pose for a photo before the tabling of the federal budget in April. <\/span> Photo by JUSTIN TANG\/THE CANADIAN PRESS<\/span><\/figcaption><\/figure>\n<\/div>\n<\/header>\n\nArticle content<\/h2>\nCanada\u2019s fall fiscal calendar has a significant event missing from it.<\/p>\n<\/section>\n\nArticle content<\/p>\n<\/section>\n\nArticle content<\/p>\nThe provinces released their fiscal updates, sticking with the established timing of refreshing their finances in the fall, but the federal Liberal government has been so silent on the subject that one economist is suggesting Canadians might have to wait until after Christmas for a national update.<\/p>\n<\/section>\n\n\nAdvertisement 2<\/p>\n\n\n\n\nThis advertisement has not loaded yet, but your article continues below.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n\n\n\n<\/p>\n\nTHIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY<\/p>\nSubscribe now to read the latest news in your city and across Canada.<\/p>\n\nExclusive articles from Barbara Shecter, Joe O’Connor, Gabriel Friedman, and others.<\/li>\nDaily content from Financial Times, the world’s leading global business publication.<\/li>\nUnlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.<\/li>\nNational Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.<\/li>\nDaily puzzles, including the New York Times Crossword.<\/li>\n<\/ul>\n<\/div>\n\nSUBSCRIBE TO UNLOCK MORE ARTICLES<\/p>\nSubscribe now to read the latest news in your city and across Canada.<\/p>\n\nExclusive articles from Barbara Shecter, Joe O’Connor, Gabriel Friedman and others.<\/li>\nDaily content from Financial Times, the world’s leading global business publication.<\/li>\nUnlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.<\/li>\nNational Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.<\/li>\nDaily puzzles, including the New York Times Crossword.<\/li>\n<\/ul>\n<\/div>\n\nREGISTER \/ SIGN IN TO UNLOCK MORE ARTICLES<\/p>\nCreate an account or sign in to continue with your reading experience.<\/p>\n\nAccess articles from across Canada with one account.<\/li>\nShare your thoughts and join the conversation in the comments.<\/li>\nEnjoy additional articles per month.<\/li>\nGet email updates from your favourite authors.<\/li>\n<\/ul>\n<\/div>\n\nTHIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.<\/p>\nCreate an account or sign in to continue with your reading experience.<\/p>\n\nAccess articles from across Canada with one account<\/li>\nShare your thoughts and join the conversation in the comments<\/li>\nEnjoy additional articles per month<\/li>\nGet email updates from your favourite authors<\/li>\n<\/ul>\n<\/div>\n<\/div>\n<\/header>\n\n\n\n\n\nSign In or Create an Account<\/h2>\nor<\/span><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n\nArticle content<\/p>\n\u201cIt\u2019s not clear when \u2014 or even if \u2014 it will come before the holidays, but the writing is mostly on the wall,\u201d Rebekah Young, an economist at the Bank of Nova Scotia, said in a note on Wednesday, adding there are even rumours \u201cswirling\u201d that there won\u2019t be a fiscal update at all.<\/p>\n\u201cBut don\u2019t discount it yet even if the finance minister remains mum,\u201d she said, noting that the 2019 election and the pandemic pushed the federal fiscal update into December instead of the usual November release.<\/p>\nYoung nonetheless took a swing at what she thinks the statement might contain.<\/p>\n\u201cMore spending is clearly in the offing,\u201d she said, referring to the Liberals\u2019 recently announced GST holiday and $250 rebate cheques for working Canadians.<\/p>\nThe GST portion of that $6.3-billion fiscal stimulus package passed in the House of Commons on Nov. 28.<\/p>\n\u201cThe balance and then some is expected before long to keep Canadians from the polls a bit longer,\u201d she said.<\/p>\nThe stimulus package is the price the Liberals are paying to retain the support of the New Democratic Party and avoid losing a no-confidence vote. But Young thinks the NDP is pushing for even more spending.<\/p>\n<\/section>\n\n\n\n\n<\/div>\n\nPosthaste<\/p>\nBreaking business news, incisive views, must-reads and market signals. Weekdays by 9 a.m.<\/p>\n<\/div>\n<\/div>\n\n\nBy signing up you consent to receive the above newsletter from Postmedia Network Inc.<\/p>\n<\/div>\n\nThanks for signing up!<\/p>\nA welcome email is on its way. If you don’t see it, please check your junk folder.<\/p>\nThe next issue of Posthaste will soon be in your inbox.<\/p>\n<\/div>\nWe encountered an issue signing you up. Please try again<\/p>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n\nArticle content<\/p>\n<\/section>\n\n\nAdvertisement 3<\/p>\n\n\n\n\nThis advertisement has not loaded yet, but your article continues below.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n\nArticle content<\/p>\nShe said the Liberals may add $15 billion in net new spending in the fiscal update while \u201cmostly\u201d adhering to the fiscal guardrails it erected in the spring budget.<\/p>\n\u201cWe would find it incredulous if the government were to blow through its own near-term fiscal anchors within a year of setting them as recent economic conditions outperform against expectations,\u201d she said.<\/p>\nIn the 2024 budget, Finance Minister Chrystia Freeland pledged \u2014 as proof of the government\u2019s fiscal discipline \u2014 that government spending would not breach a $40.1-billion deficit in 2023-24.<\/p>\nRecently, however, the Parliamentary Budget Officer warned that the government has likely blown past its own limits. But there are plenty of reasons for the Liberals to hold their \u201cfiscal firepower\u201d in the update.<\/p>\nIncoming United States president Donald Trump\u2018s threatened 25 per cent tariffs on all Canadian goods entering the U.S. are a growth buster.<\/p>\n\u201cThe impacts of a second Trump presidency are largely unknowable, but biased to the downside for Canada under most scenarios,\u201d Young said, estimating that the uncertainty that is the president-elect\u2019s hallmark could shrink the Canadian\u00a0economy by 0.7 per cent over his term. A long-term tariff war could be \u201cmultiples worse.\u201d<\/p>\n<\/section>\n\n\nAdvertisement 4<\/p>\n\n\n\n\nThis advertisement has not loaded yet, but your article continues below.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n\nArticle content<\/p>\nIn an effort to deal with these threats and Trump\u2019s other demands, Young said the Liberals could move up a plan to spend two per cent of gross domestic product (GDP) on defence to 2030 from 2032, at a cost of tens of billions of dollars.<\/p>\n\u201cSpending now risks crowding out strategic investments down the road,\u201d she said.<\/p>\nThe budget\u2019s GDP outlook is also clouded by \u201chomegrown\u201d uncertainty around population growth.<\/p>\n\u201cThis would call for heightened caution in setting out a fiscal plan,\u201d Young said, adding that a \u201cone percentage point shock to real GDP could erode the budgetary balance by some $25 billion over five years before accounting for any discretionary spending.\u201d<\/p>\n\n\u00a0Sign up here to get Posthaste delivered straight to your inbox.<\/strong><\/em><\/p>\n\n<\/strong><\/p>\n<\/source><\/source><\/source><\/source><\/source><\/picture><\/figure>\nToronto-Dominion Bank\u00a0has suspended its medium-term financial targets as it looks to undergo a \u201cbroad and detailed\u201d review of its strategies, weeks after being sanctioned in the United States for failing to monitor money laundering activities.<\/p>\nAs a result of the strategic review, TD on Thursday said it would be \u201cchallenging\u201d to generate earnings growth, so it suspended its targets of seven per cent to 10 per cent earnings per share growth and 16 per cent return on equity. It will update the targets in the second half of 2025.<\/p>\n<\/section>\n\n\nAdvertisement 5<\/p>\n\n\n\n\nThis advertisement has not loaded yet, but your article continues below.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n\nArticle content<\/p>\n\u201cWe are looking at our business mix, including profitability and risk-adjusted return on capital, and where we need to invest and divest to improve. Everything is on the table,\u201d Raymond Chun, TD\u2019s chief operating officer who is set to succeed current chief executive Bharat Masrani next year, said on a conference call with analysts to discuss the bank\u2019s fourth-quarter results. \u2014 Naimul Karim, Financial Post<\/em><\/p>\nRead the full story here.<\/p>\n\n<\/p>\n\nToday\u2019s data: <\/strong>The U.S. Labor Department and Statistics Canada release jobs numbers for November. <\/strong><\/li>\nEarnings: <\/strong>BRP Inc., Laurentian Bank of Canada, Canadian Western Bank<\/li>\n<\/ul>\n\n<\/p>\n<\/source><\/source><\/source><\/source><\/source><\/picture><\/figure>\n\n\n<\/strong><\/p>\n\nRecommended from Editorial<\/p>\n<\/p>\n\n <\/picture>\nThe great wealth transfer might not be all it’s cracked up to be<\/span><\/p>\n<\/li>\n <\/picture>\nProfit and investment plunge signals trouble for Corporate Canada<\/span><\/p>\n<\/li>\n<\/ol>\n<\/section>\n<\/section>\n\n\nAdvertisement 6<\/p>\n\n\n\n\nThis advertisement has not loaded yet, but your article continues below.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n\nArticle content<\/p>\n\n<\/p>\nMarkets are betting on a quarter-point cut to the Bank of Canada\u2019s policy rate next week, which means the prime rate should fall to 5.70 per cent for the first time in more than two years. That\u2019s the good news, writes MortgageLogic.news strategist Robert McLister. The bad news is the leading variable rate discounts from prime are shrinking. Find out more about the best rates for mortgages here.<\/p>\n\nHard Earned Truth<\/h3>\nIn an ongoing series about what the next generation needs to know to build wealth, we offer another hard earned truth: Good debt can boost investment wealth, but beware its bad twin.\u00a0<\/span><\/p>\n\nMcLister on mortgages<\/h3>\nWant to learn more about mortgages? Mortgage strategist Robert McLister\u2019s Financial Post column can help navigate the complex sector, from the latest trends to financing opportunities you won\u2019t want to miss. Read them here\u00a0<\/p>\n\nFinancial Post on YouTube<\/h3>\nVisit Financial Post\u2019s YouTube channel for interviews with Canada\u2019s leading experts in economics, housing, the energy sector and more.<\/p>\n\nToday\u2019s Posthaste was written by Gigi Suhanic, with additional reporting from Financial Post staff, The Canadian Press and Bloomberg.<\/em><\/p>\nHave a story idea, pitch, embargoed report, or a suggestion for this newsletter? Email us at\u00a0posthaste@postmedia.com.<\/p>\n\nBookmark our website and support our journalism:<\/strong> Don\u2019t miss the business news you need to know \u2014 add\u00a0financialpost.com\u00a0to your bookmarks and sign up for our newsletters here.<\/em><\/p>\n<\/section>\n\nArticle content<\/p>\n<\/section>\n\nShare this article in your social network<\/p>\n<\/section>\n<\/div>\n\nScotiabank warns on Canada’s budget update<\/a>\n2024-12-06 13:00:47<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"Breadcrumb Trail Links News Timing of fiscal refresh unknown with some saying it could land post-Christmas as rumours ‘swirl’ it won’t come at all Published Dec 06, 2024 \u00a0\u2022\u00a0 Last…<\/p>\n","protected":false},"author":2,"featured_media":53703,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[31],"tags":[],"class_list":{"0":"post-53702","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy"},"_links":{"self":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/53702","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/comments?post=53702"}],"version-history":[{"count":0,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/53702\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media\/53703"}],"wp:attachment":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media?parent=53702"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/categories?post=53702"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/tags?post=53702"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
You can save this article by registering for free here. Or sign-in if you have an account.<\/p>\n<\/div>\n<\/div>\n
<\/svg><\/button><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/source><\/source><\/source><\/source><\/source><\/picture>Prime Minister Justin Trudeau, Finance Minister Chrystia Freeland and cabinet ministers pose for a photo before the tabling of the federal budget in April. <\/span> Photo by JUSTIN TANG\/THE CANADIAN PRESS<\/span><\/figcaption><\/figure>\n<\/div>\n<\/header>\n\nArticle content<\/h2>\nCanada\u2019s fall fiscal calendar has a significant event missing from it.<\/p>\n<\/section>\n\nArticle content<\/p>\n<\/section>\n\nArticle content<\/p>\nThe provinces released their fiscal updates, sticking with the established timing of refreshing their finances in the fall, but the federal Liberal government has been so silent on the subject that one economist is suggesting Canadians might have to wait until after Christmas for a national update.<\/p>\n<\/section>\n\n\nAdvertisement 2<\/p>\n\n\n\n\nThis advertisement has not loaded yet, but your article continues below.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n\n\n\n<\/p>\n\nTHIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY<\/p>\nSubscribe now to read the latest news in your city and across Canada.<\/p>\n\nExclusive articles from Barbara Shecter, Joe O’Connor, Gabriel Friedman, and others.<\/li>\nDaily content from Financial Times, the world’s leading global business publication.<\/li>\nUnlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.<\/li>\nNational Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.<\/li>\nDaily puzzles, including the New York Times Crossword.<\/li>\n<\/ul>\n<\/div>\n\nSUBSCRIBE TO UNLOCK MORE ARTICLES<\/p>\nSubscribe now to read the latest news in your city and across Canada.<\/p>\n\nExclusive articles from Barbara Shecter, Joe O’Connor, Gabriel Friedman and others.<\/li>\nDaily content from Financial Times, the world’s leading global business publication.<\/li>\nUnlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.<\/li>\nNational Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.<\/li>\nDaily puzzles, including the New York Times Crossword.<\/li>\n<\/ul>\n<\/div>\n\nREGISTER \/ SIGN IN TO UNLOCK MORE ARTICLES<\/p>\nCreate an account or sign in to continue with your reading experience.<\/p>\n\nAccess articles from across Canada with one account.<\/li>\nShare your thoughts and join the conversation in the comments.<\/li>\nEnjoy additional articles per month.<\/li>\nGet email updates from your favourite authors.<\/li>\n<\/ul>\n<\/div>\n\nTHIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.<\/p>\nCreate an account or sign in to continue with your reading experience.<\/p>\n\nAccess articles from across Canada with one account<\/li>\nShare your thoughts and join the conversation in the comments<\/li>\nEnjoy additional articles per month<\/li>\nGet email updates from your favourite authors<\/li>\n<\/ul>\n<\/div>\n<\/div>\n<\/header>\n\n\n\n\n\nSign In or Create an Account<\/h2>\nor<\/span><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n\nArticle content<\/p>\n\u201cIt\u2019s not clear when \u2014 or even if \u2014 it will come before the holidays, but the writing is mostly on the wall,\u201d Rebekah Young, an economist at the Bank of Nova Scotia, said in a note on Wednesday, adding there are even rumours \u201cswirling\u201d that there won\u2019t be a fiscal update at all.<\/p>\n\u201cBut don\u2019t discount it yet even if the finance minister remains mum,\u201d she said, noting that the 2019 election and the pandemic pushed the federal fiscal update into December instead of the usual November release.<\/p>\nYoung nonetheless took a swing at what she thinks the statement might contain.<\/p>\n\u201cMore spending is clearly in the offing,\u201d she said, referring to the Liberals\u2019 recently announced GST holiday and $250 rebate cheques for working Canadians.<\/p>\nThe GST portion of that $6.3-billion fiscal stimulus package passed in the House of Commons on Nov. 28.<\/p>\n\u201cThe balance and then some is expected before long to keep Canadians from the polls a bit longer,\u201d she said.<\/p>\nThe stimulus package is the price the Liberals are paying to retain the support of the New Democratic Party and avoid losing a no-confidence vote. But Young thinks the NDP is pushing for even more spending.<\/p>\n<\/section>\n\n\n\n\n<\/div>\n\nPosthaste<\/p>\nBreaking business news, incisive views, must-reads and market signals. Weekdays by 9 a.m.<\/p>\n<\/div>\n<\/div>\n\n\nBy signing up you consent to receive the above newsletter from Postmedia Network Inc.<\/p>\n<\/div>\n\nThanks for signing up!<\/p>\nA welcome email is on its way. If you don’t see it, please check your junk folder.<\/p>\nThe next issue of Posthaste will soon be in your inbox.<\/p>\n<\/div>\nWe encountered an issue signing you up. Please try again<\/p>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n\nArticle content<\/p>\n<\/section>\n\n\nAdvertisement 3<\/p>\n\n\n\n\nThis advertisement has not loaded yet, but your article continues below.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n\nArticle content<\/p>\nShe said the Liberals may add $15 billion in net new spending in the fiscal update while \u201cmostly\u201d adhering to the fiscal guardrails it erected in the spring budget.<\/p>\n\u201cWe would find it incredulous if the government were to blow through its own near-term fiscal anchors within a year of setting them as recent economic conditions outperform against expectations,\u201d she said.<\/p>\nIn the 2024 budget, Finance Minister Chrystia Freeland pledged \u2014 as proof of the government\u2019s fiscal discipline \u2014 that government spending would not breach a $40.1-billion deficit in 2023-24.<\/p>\nRecently, however, the Parliamentary Budget Officer warned that the government has likely blown past its own limits. But there are plenty of reasons for the Liberals to hold their \u201cfiscal firepower\u201d in the update.<\/p>\nIncoming United States president Donald Trump\u2018s threatened 25 per cent tariffs on all Canadian goods entering the U.S. are a growth buster.<\/p>\n\u201cThe impacts of a second Trump presidency are largely unknowable, but biased to the downside for Canada under most scenarios,\u201d Young said, estimating that the uncertainty that is the president-elect\u2019s hallmark could shrink the Canadian\u00a0economy by 0.7 per cent over his term. A long-term tariff war could be \u201cmultiples worse.\u201d<\/p>\n<\/section>\n\n\nAdvertisement 4<\/p>\n\n\n\n\nThis advertisement has not loaded yet, but your article continues below.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n\nArticle content<\/p>\nIn an effort to deal with these threats and Trump\u2019s other demands, Young said the Liberals could move up a plan to spend two per cent of gross domestic product (GDP) on defence to 2030 from 2032, at a cost of tens of billions of dollars.<\/p>\n\u201cSpending now risks crowding out strategic investments down the road,\u201d she said.<\/p>\nThe budget\u2019s GDP outlook is also clouded by \u201chomegrown\u201d uncertainty around population growth.<\/p>\n\u201cThis would call for heightened caution in setting out a fiscal plan,\u201d Young said, adding that a \u201cone percentage point shock to real GDP could erode the budgetary balance by some $25 billion over five years before accounting for any discretionary spending.\u201d<\/p>\n\n\u00a0Sign up here to get Posthaste delivered straight to your inbox.<\/strong><\/em><\/p>\n\n<\/strong><\/p>\n<\/source><\/source><\/source><\/source><\/source><\/picture><\/figure>\nToronto-Dominion Bank\u00a0has suspended its medium-term financial targets as it looks to undergo a \u201cbroad and detailed\u201d review of its strategies, weeks after being sanctioned in the United States for failing to monitor money laundering activities.<\/p>\nAs a result of the strategic review, TD on Thursday said it would be \u201cchallenging\u201d to generate earnings growth, so it suspended its targets of seven per cent to 10 per cent earnings per share growth and 16 per cent return on equity. It will update the targets in the second half of 2025.<\/p>\n<\/section>\n\n\nAdvertisement 5<\/p>\n\n\n\n\nThis advertisement has not loaded yet, but your article continues below.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n\nArticle content<\/p>\n\u201cWe are looking at our business mix, including profitability and risk-adjusted return on capital, and where we need to invest and divest to improve. Everything is on the table,\u201d Raymond Chun, TD\u2019s chief operating officer who is set to succeed current chief executive Bharat Masrani next year, said on a conference call with analysts to discuss the bank\u2019s fourth-quarter results. \u2014 Naimul Karim, Financial Post<\/em><\/p>\nRead the full story here.<\/p>\n\n<\/p>\n\nToday\u2019s data: <\/strong>The U.S. Labor Department and Statistics Canada release jobs numbers for November. <\/strong><\/li>\nEarnings: <\/strong>BRP Inc., Laurentian Bank of Canada, Canadian Western Bank<\/li>\n<\/ul>\n\n<\/p>\n<\/source><\/source><\/source><\/source><\/source><\/picture><\/figure>\n\n\n<\/strong><\/p>\n\nRecommended from Editorial<\/p>\n<\/p>\n\n <\/picture>\nThe great wealth transfer might not be all it’s cracked up to be<\/span><\/p>\n<\/li>\n <\/picture>\nProfit and investment plunge signals trouble for Corporate Canada<\/span><\/p>\n<\/li>\n<\/ol>\n<\/section>\n<\/section>\n\n\nAdvertisement 6<\/p>\n\n\n\n\nThis advertisement has not loaded yet, but your article continues below.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n\nArticle content<\/p>\n\n<\/p>\nMarkets are betting on a quarter-point cut to the Bank of Canada\u2019s policy rate next week, which means the prime rate should fall to 5.70 per cent for the first time in more than two years. That\u2019s the good news, writes MortgageLogic.news strategist Robert McLister. The bad news is the leading variable rate discounts from prime are shrinking. Find out more about the best rates for mortgages here.<\/p>\n\nHard Earned Truth<\/h3>\nIn an ongoing series about what the next generation needs to know to build wealth, we offer another hard earned truth: Good debt can boost investment wealth, but beware its bad twin.\u00a0<\/span><\/p>\n\nMcLister on mortgages<\/h3>\nWant to learn more about mortgages? Mortgage strategist Robert McLister\u2019s Financial Post column can help navigate the complex sector, from the latest trends to financing opportunities you won\u2019t want to miss. Read them here\u00a0<\/p>\n\nFinancial Post on YouTube<\/h3>\nVisit Financial Post\u2019s YouTube channel for interviews with Canada\u2019s leading experts in economics, housing, the energy sector and more.<\/p>\n\nToday\u2019s Posthaste was written by Gigi Suhanic, with additional reporting from Financial Post staff, The Canadian Press and Bloomberg.<\/em><\/p>\nHave a story idea, pitch, embargoed report, or a suggestion for this newsletter? Email us at\u00a0posthaste@postmedia.com.<\/p>\n\nBookmark our website and support our journalism:<\/strong> Don\u2019t miss the business news you need to know \u2014 add\u00a0financialpost.com\u00a0to your bookmarks and sign up for our newsletters here.<\/em><\/p>\n<\/section>\n\nArticle content<\/p>\n<\/section>\n\nShare this article in your social network<\/p>\n<\/section>\n<\/div>\n\nScotiabank warns on Canada’s budget update<\/a>\n2024-12-06 13:00:47<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"Breadcrumb Trail Links News Timing of fiscal refresh unknown with some saying it could land post-Christmas as rumours ‘swirl’ it won’t come at all Published Dec 06, 2024 \u00a0\u2022\u00a0 Last…<\/p>\n","protected":false},"author":2,"featured_media":53703,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[31],"tags":[],"class_list":{"0":"post-53702","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy"},"_links":{"self":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/53702","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/comments?post=53702"}],"version-history":[{"count":0,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/53702\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media\/53703"}],"wp:attachment":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media?parent=53702"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/categories?post=53702"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/tags?post=53702"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
Canada\u2019s fall fiscal calendar has a significant event missing from it.<\/p>\n<\/section>\n\nArticle content<\/p>\n<\/section>\n\nArticle content<\/p>\nThe provinces released their fiscal updates, sticking with the established timing of refreshing their finances in the fall, but the federal Liberal government has been so silent on the subject that one economist is suggesting Canadians might have to wait until after Christmas for a national update.<\/p>\n<\/section>\n\n\nAdvertisement 2<\/p>\n\n\n\n\nThis advertisement has not loaded yet, but your article continues below.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n\n\n\n<\/p>\n\nTHIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY<\/p>\nSubscribe now to read the latest news in your city and across Canada.<\/p>\n\nExclusive articles from Barbara Shecter, Joe O’Connor, Gabriel Friedman, and others.<\/li>\nDaily content from Financial Times, the world’s leading global business publication.<\/li>\nUnlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.<\/li>\nNational Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.<\/li>\nDaily puzzles, including the New York Times Crossword.<\/li>\n<\/ul>\n<\/div>\n\nSUBSCRIBE TO UNLOCK MORE ARTICLES<\/p>\nSubscribe now to read the latest news in your city and across Canada.<\/p>\n\nExclusive articles from Barbara Shecter, Joe O’Connor, Gabriel Friedman and others.<\/li>\nDaily content from Financial Times, the world’s leading global business publication.<\/li>\nUnlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.<\/li>\nNational Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.<\/li>\nDaily puzzles, including the New York Times Crossword.<\/li>\n<\/ul>\n<\/div>\n\nREGISTER \/ SIGN IN TO UNLOCK MORE ARTICLES<\/p>\nCreate an account or sign in to continue with your reading experience.<\/p>\n\nAccess articles from across Canada with one account.<\/li>\nShare your thoughts and join the conversation in the comments.<\/li>\nEnjoy additional articles per month.<\/li>\nGet email updates from your favourite authors.<\/li>\n<\/ul>\n<\/div>\n\nTHIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.<\/p>\nCreate an account or sign in to continue with your reading experience.<\/p>\n\nAccess articles from across Canada with one account<\/li>\nShare your thoughts and join the conversation in the comments<\/li>\nEnjoy additional articles per month<\/li>\nGet email updates from your favourite authors<\/li>\n<\/ul>\n<\/div>\n<\/div>\n<\/header>\n\n\n\n\n\nSign In or Create an Account<\/h2>\nor<\/span><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n\nArticle content<\/p>\n\u201cIt\u2019s not clear when \u2014 or even if \u2014 it will come before the holidays, but the writing is mostly on the wall,\u201d Rebekah Young, an economist at the Bank of Nova Scotia, said in a note on Wednesday, adding there are even rumours \u201cswirling\u201d that there won\u2019t be a fiscal update at all.<\/p>\n\u201cBut don\u2019t discount it yet even if the finance minister remains mum,\u201d she said, noting that the 2019 election and the pandemic pushed the federal fiscal update into December instead of the usual November release.<\/p>\nYoung nonetheless took a swing at what she thinks the statement might contain.<\/p>\n\u201cMore spending is clearly in the offing,\u201d she said, referring to the Liberals\u2019 recently announced GST holiday and $250 rebate cheques for working Canadians.<\/p>\nThe GST portion of that $6.3-billion fiscal stimulus package passed in the House of Commons on Nov. 28.<\/p>\n\u201cThe balance and then some is expected before long to keep Canadians from the polls a bit longer,\u201d she said.<\/p>\nThe stimulus package is the price the Liberals are paying to retain the support of the New Democratic Party and avoid losing a no-confidence vote. But Young thinks the NDP is pushing for even more spending.<\/p>\n<\/section>\n\n\n\n\n<\/div>\n\nPosthaste<\/p>\nBreaking business news, incisive views, must-reads and market signals. Weekdays by 9 a.m.<\/p>\n<\/div>\n<\/div>\n\n\nBy signing up you consent to receive the above newsletter from Postmedia Network Inc.<\/p>\n<\/div>\n\nThanks for signing up!<\/p>\nA welcome email is on its way. If you don’t see it, please check your junk folder.<\/p>\nThe next issue of Posthaste will soon be in your inbox.<\/p>\n<\/div>\nWe encountered an issue signing you up. Please try again<\/p>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n\nArticle content<\/p>\n<\/section>\n\n\nAdvertisement 3<\/p>\n\n\n\n\nThis advertisement has not loaded yet, but your article continues below.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n\nArticle content<\/p>\nShe said the Liberals may add $15 billion in net new spending in the fiscal update while \u201cmostly\u201d adhering to the fiscal guardrails it erected in the spring budget.<\/p>\n\u201cWe would find it incredulous if the government were to blow through its own near-term fiscal anchors within a year of setting them as recent economic conditions outperform against expectations,\u201d she said.<\/p>\nIn the 2024 budget, Finance Minister Chrystia Freeland pledged \u2014 as proof of the government\u2019s fiscal discipline \u2014 that government spending would not breach a $40.1-billion deficit in 2023-24.<\/p>\nRecently, however, the Parliamentary Budget Officer warned that the government has likely blown past its own limits. But there are plenty of reasons for the Liberals to hold their \u201cfiscal firepower\u201d in the update.<\/p>\nIncoming United States president Donald Trump\u2018s threatened 25 per cent tariffs on all Canadian goods entering the U.S. are a growth buster.<\/p>\n\u201cThe impacts of a second Trump presidency are largely unknowable, but biased to the downside for Canada under most scenarios,\u201d Young said, estimating that the uncertainty that is the president-elect\u2019s hallmark could shrink the Canadian\u00a0economy by 0.7 per cent over his term. A long-term tariff war could be \u201cmultiples worse.\u201d<\/p>\n<\/section>\n\n\nAdvertisement 4<\/p>\n\n\n\n\nThis advertisement has not loaded yet, but your article continues below.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n\nArticle content<\/p>\nIn an effort to deal with these threats and Trump\u2019s other demands, Young said the Liberals could move up a plan to spend two per cent of gross domestic product (GDP) on defence to 2030 from 2032, at a cost of tens of billions of dollars.<\/p>\n\u201cSpending now risks crowding out strategic investments down the road,\u201d she said.<\/p>\nThe budget\u2019s GDP outlook is also clouded by \u201chomegrown\u201d uncertainty around population growth.<\/p>\n\u201cThis would call for heightened caution in setting out a fiscal plan,\u201d Young said, adding that a \u201cone percentage point shock to real GDP could erode the budgetary balance by some $25 billion over five years before accounting for any discretionary spending.\u201d<\/p>\n\n\u00a0Sign up here to get Posthaste delivered straight to your inbox.<\/strong><\/em><\/p>\n\n<\/strong><\/p>\n<\/source><\/source><\/source><\/source><\/source><\/picture><\/figure>\nToronto-Dominion Bank\u00a0has suspended its medium-term financial targets as it looks to undergo a \u201cbroad and detailed\u201d review of its strategies, weeks after being sanctioned in the United States for failing to monitor money laundering activities.<\/p>\nAs a result of the strategic review, TD on Thursday said it would be \u201cchallenging\u201d to generate earnings growth, so it suspended its targets of seven per cent to 10 per cent earnings per share growth and 16 per cent return on equity. It will update the targets in the second half of 2025.<\/p>\n<\/section>\n\n\nAdvertisement 5<\/p>\n\n\n\n\nThis advertisement has not loaded yet, but your article continues below.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n\nArticle content<\/p>\n\u201cWe are looking at our business mix, including profitability and risk-adjusted return on capital, and where we need to invest and divest to improve. Everything is on the table,\u201d Raymond Chun, TD\u2019s chief operating officer who is set to succeed current chief executive Bharat Masrani next year, said on a conference call with analysts to discuss the bank\u2019s fourth-quarter results. \u2014 Naimul Karim, Financial Post<\/em><\/p>\nRead the full story here.<\/p>\n\n<\/p>\n\nToday\u2019s data: <\/strong>The U.S. Labor Department and Statistics Canada release jobs numbers for November. <\/strong><\/li>\nEarnings: <\/strong>BRP Inc., Laurentian Bank of Canada, Canadian Western Bank<\/li>\n<\/ul>\n\n<\/p>\n<\/source><\/source><\/source><\/source><\/source><\/picture><\/figure>\n\n\n<\/strong><\/p>\n\nRecommended from Editorial<\/p>\n<\/p>\n\n <\/picture>\nThe great wealth transfer might not be all it’s cracked up to be<\/span><\/p>\n<\/li>\n <\/picture>\nProfit and investment plunge signals trouble for Corporate Canada<\/span><\/p>\n<\/li>\n<\/ol>\n<\/section>\n<\/section>\n\n\nAdvertisement 6<\/p>\n\n\n\n\nThis advertisement has not loaded yet, but your article continues below.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n\nArticle content<\/p>\n\n<\/p>\nMarkets are betting on a quarter-point cut to the Bank of Canada\u2019s policy rate next week, which means the prime rate should fall to 5.70 per cent for the first time in more than two years. That\u2019s the good news, writes MortgageLogic.news strategist Robert McLister. The bad news is the leading variable rate discounts from prime are shrinking. Find out more about the best rates for mortgages here.<\/p>\n\nHard Earned Truth<\/h3>\nIn an ongoing series about what the next generation needs to know to build wealth, we offer another hard earned truth: Good debt can boost investment wealth, but beware its bad twin.\u00a0<\/span><\/p>\n\nMcLister on mortgages<\/h3>\nWant to learn more about mortgages? Mortgage strategist Robert McLister\u2019s Financial Post column can help navigate the complex sector, from the latest trends to financing opportunities you won\u2019t want to miss. Read them here\u00a0<\/p>\n\nFinancial Post on YouTube<\/h3>\nVisit Financial Post\u2019s YouTube channel for interviews with Canada\u2019s leading experts in economics, housing, the energy sector and more.<\/p>\n\nToday\u2019s Posthaste was written by Gigi Suhanic, with additional reporting from Financial Post staff, The Canadian Press and Bloomberg.<\/em><\/p>\nHave a story idea, pitch, embargoed report, or a suggestion for this newsletter? Email us at\u00a0posthaste@postmedia.com.<\/p>\n\nBookmark our website and support our journalism:<\/strong> Don\u2019t miss the business news you need to know \u2014 add\u00a0financialpost.com\u00a0to your bookmarks and sign up for our newsletters here.<\/em><\/p>\n<\/section>\n\nArticle content<\/p>\n<\/section>\n\nShare this article in your social network<\/p>\n<\/section>\n<\/div>\n\nScotiabank warns on Canada’s budget update<\/a>\n2024-12-06 13:00:47<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"Breadcrumb Trail Links News Timing of fiscal refresh unknown with some saying it could land post-Christmas as rumours ‘swirl’ it won’t come at all Published Dec 06, 2024 \u00a0\u2022\u00a0 Last…<\/p>\n","protected":false},"author":2,"featured_media":53703,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[31],"tags":[],"class_list":{"0":"post-53702","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy"},"_links":{"self":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/53702","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/comments?post=53702"}],"version-history":[{"count":0,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/53702\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media\/53703"}],"wp:attachment":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media?parent=53702"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/categories?post=53702"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/tags?post=53702"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
Article content<\/p>\n<\/section>\n\nArticle content<\/p>\nThe provinces released their fiscal updates, sticking with the established timing of refreshing their finances in the fall, but the federal Liberal government has been so silent on the subject that one economist is suggesting Canadians might have to wait until after Christmas for a national update.<\/p>\n<\/section>\n\n\nAdvertisement 2<\/p>\n\n\n\n\nThis advertisement has not loaded yet, but your article continues below.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n\n\n\n<\/p>\n\nTHIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY<\/p>\nSubscribe now to read the latest news in your city and across Canada.<\/p>\n\nExclusive articles from Barbara Shecter, Joe O’Connor, Gabriel Friedman, and others.<\/li>\nDaily content from Financial Times, the world’s leading global business publication.<\/li>\nUnlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.<\/li>\nNational Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.<\/li>\nDaily puzzles, including the New York Times Crossword.<\/li>\n<\/ul>\n<\/div>\n\nSUBSCRIBE TO UNLOCK MORE ARTICLES<\/p>\nSubscribe now to read the latest news in your city and across Canada.<\/p>\n\nExclusive articles from Barbara Shecter, Joe O’Connor, Gabriel Friedman and others.<\/li>\nDaily content from Financial Times, the world’s leading global business publication.<\/li>\nUnlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.<\/li>\nNational Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.<\/li>\nDaily puzzles, including the New York Times Crossword.<\/li>\n<\/ul>\n<\/div>\n\nREGISTER \/ SIGN IN TO UNLOCK MORE ARTICLES<\/p>\nCreate an account or sign in to continue with your reading experience.<\/p>\n\nAccess articles from across Canada with one account.<\/li>\nShare your thoughts and join the conversation in the comments.<\/li>\nEnjoy additional articles per month.<\/li>\nGet email updates from your favourite authors.<\/li>\n<\/ul>\n<\/div>\n\nTHIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.<\/p>\nCreate an account or sign in to continue with your reading experience.<\/p>\n\nAccess articles from across Canada with one account<\/li>\nShare your thoughts and join the conversation in the comments<\/li>\nEnjoy additional articles per month<\/li>\nGet email updates from your favourite authors<\/li>\n<\/ul>\n<\/div>\n<\/div>\n<\/header>\n\n\n\n\n\nSign In or Create an Account<\/h2>\nor<\/span><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n\nArticle content<\/p>\n\u201cIt\u2019s not clear when \u2014 or even if \u2014 it will come before the holidays, but the writing is mostly on the wall,\u201d Rebekah Young, an economist at the Bank of Nova Scotia, said in a note on Wednesday, adding there are even rumours \u201cswirling\u201d that there won\u2019t be a fiscal update at all.<\/p>\n\u201cBut don\u2019t discount it yet even if the finance minister remains mum,\u201d she said, noting that the 2019 election and the pandemic pushed the federal fiscal update into December instead of the usual November release.<\/p>\nYoung nonetheless took a swing at what she thinks the statement might contain.<\/p>\n\u201cMore spending is clearly in the offing,\u201d she said, referring to the Liberals\u2019 recently announced GST holiday and $250 rebate cheques for working Canadians.<\/p>\nThe GST portion of that $6.3-billion fiscal stimulus package passed in the House of Commons on Nov. 28.<\/p>\n\u201cThe balance and then some is expected before long to keep Canadians from the polls a bit longer,\u201d she said.<\/p>\nThe stimulus package is the price the Liberals are paying to retain the support of the New Democratic Party and avoid losing a no-confidence vote. But Young thinks the NDP is pushing for even more spending.<\/p>\n<\/section>\n\n\n\n\n<\/div>\n\nPosthaste<\/p>\nBreaking business news, incisive views, must-reads and market signals. Weekdays by 9 a.m.<\/p>\n<\/div>\n<\/div>\n\n\nBy signing up you consent to receive the above newsletter from Postmedia Network Inc.<\/p>\n<\/div>\n\nThanks for signing up!<\/p>\nA welcome email is on its way. If you don’t see it, please check your junk folder.<\/p>\nThe next issue of Posthaste will soon be in your inbox.<\/p>\n<\/div>\nWe encountered an issue signing you up. Please try again<\/p>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n\nArticle content<\/p>\n<\/section>\n\n\nAdvertisement 3<\/p>\n\n\n\n\nThis advertisement has not loaded yet, but your article continues below.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n\nArticle content<\/p>\nShe said the Liberals may add $15 billion in net new spending in the fiscal update while \u201cmostly\u201d adhering to the fiscal guardrails it erected in the spring budget.<\/p>\n\u201cWe would find it incredulous if the government were to blow through its own near-term fiscal anchors within a year of setting them as recent economic conditions outperform against expectations,\u201d she said.<\/p>\nIn the 2024 budget, Finance Minister Chrystia Freeland pledged \u2014 as proof of the government\u2019s fiscal discipline \u2014 that government spending would not breach a $40.1-billion deficit in 2023-24.<\/p>\nRecently, however, the Parliamentary Budget Officer warned that the government has likely blown past its own limits. But there are plenty of reasons for the Liberals to hold their \u201cfiscal firepower\u201d in the update.<\/p>\nIncoming United States president Donald Trump\u2018s threatened 25 per cent tariffs on all Canadian goods entering the U.S. are a growth buster.<\/p>\n\u201cThe impacts of a second Trump presidency are largely unknowable, but biased to the downside for Canada under most scenarios,\u201d Young said, estimating that the uncertainty that is the president-elect\u2019s hallmark could shrink the Canadian\u00a0economy by 0.7 per cent over his term. A long-term tariff war could be \u201cmultiples worse.\u201d<\/p>\n<\/section>\n\n\nAdvertisement 4<\/p>\n\n\n\n\nThis advertisement has not loaded yet, but your article continues below.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n\nArticle content<\/p>\nIn an effort to deal with these threats and Trump\u2019s other demands, Young said the Liberals could move up a plan to spend two per cent of gross domestic product (GDP) on defence to 2030 from 2032, at a cost of tens of billions of dollars.<\/p>\n\u201cSpending now risks crowding out strategic investments down the road,\u201d she said.<\/p>\nThe budget\u2019s GDP outlook is also clouded by \u201chomegrown\u201d uncertainty around population growth.<\/p>\n\u201cThis would call for heightened caution in setting out a fiscal plan,\u201d Young said, adding that a \u201cone percentage point shock to real GDP could erode the budgetary balance by some $25 billion over five years before accounting for any discretionary spending.\u201d<\/p>\n\n\u00a0Sign up here to get Posthaste delivered straight to your inbox.<\/strong><\/em><\/p>\n\n<\/strong><\/p>\n<\/source><\/source><\/source><\/source><\/source><\/picture><\/figure>\nToronto-Dominion Bank\u00a0has suspended its medium-term financial targets as it looks to undergo a \u201cbroad and detailed\u201d review of its strategies, weeks after being sanctioned in the United States for failing to monitor money laundering activities.<\/p>\nAs a result of the strategic review, TD on Thursday said it would be \u201cchallenging\u201d to generate earnings growth, so it suspended its targets of seven per cent to 10 per cent earnings per share growth and 16 per cent return on equity. It will update the targets in the second half of 2025.<\/p>\n<\/section>\n\n\nAdvertisement 5<\/p>\n\n\n\n\nThis advertisement has not loaded yet, but your article continues below.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n\nArticle content<\/p>\n\u201cWe are looking at our business mix, including profitability and risk-adjusted return on capital, and where we need to invest and divest to improve. Everything is on the table,\u201d Raymond Chun, TD\u2019s chief operating officer who is set to succeed current chief executive Bharat Masrani next year, said on a conference call with analysts to discuss the bank\u2019s fourth-quarter results. \u2014 Naimul Karim, Financial Post<\/em><\/p>\nRead the full story here.<\/p>\n\n<\/p>\n\nToday\u2019s data: <\/strong>The U.S. Labor Department and Statistics Canada release jobs numbers for November. <\/strong><\/li>\nEarnings: <\/strong>BRP Inc., Laurentian Bank of Canada, Canadian Western Bank<\/li>\n<\/ul>\n\n<\/p>\n<\/source><\/source><\/source><\/source><\/source><\/picture><\/figure>\n\n\n<\/strong><\/p>\n\nRecommended from Editorial<\/p>\n<\/p>\n\n <\/picture>\nThe great wealth transfer might not be all it’s cracked up to be<\/span><\/p>\n<\/li>\n <\/picture>\nProfit and investment plunge signals trouble for Corporate Canada<\/span><\/p>\n<\/li>\n<\/ol>\n<\/section>\n<\/section>\n\n\nAdvertisement 6<\/p>\n\n\n\n\nThis advertisement has not loaded yet, but your article continues below.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n\nArticle content<\/p>\n\n<\/p>\nMarkets are betting on a quarter-point cut to the Bank of Canada\u2019s policy rate next week, which means the prime rate should fall to 5.70 per cent for the first time in more than two years. That\u2019s the good news, writes MortgageLogic.news strategist Robert McLister. The bad news is the leading variable rate discounts from prime are shrinking. Find out more about the best rates for mortgages here.<\/p>\n\nHard Earned Truth<\/h3>\nIn an ongoing series about what the next generation needs to know to build wealth, we offer another hard earned truth: Good debt can boost investment wealth, but beware its bad twin.\u00a0<\/span><\/p>\n\nMcLister on mortgages<\/h3>\nWant to learn more about mortgages? Mortgage strategist Robert McLister\u2019s Financial Post column can help navigate the complex sector, from the latest trends to financing opportunities you won\u2019t want to miss. Read them here\u00a0<\/p>\n\nFinancial Post on YouTube<\/h3>\nVisit Financial Post\u2019s YouTube channel for interviews with Canada\u2019s leading experts in economics, housing, the energy sector and more.<\/p>\n\nToday\u2019s Posthaste was written by Gigi Suhanic, with additional reporting from Financial Post staff, The Canadian Press and Bloomberg.<\/em><\/p>\nHave a story idea, pitch, embargoed report, or a suggestion for this newsletter? Email us at\u00a0posthaste@postmedia.com.<\/p>\n\nBookmark our website and support our journalism:<\/strong> Don\u2019t miss the business news you need to know \u2014 add\u00a0financialpost.com\u00a0to your bookmarks and sign up for our newsletters here.<\/em><\/p>\n<\/section>\n\nArticle content<\/p>\n<\/section>\n\nShare this article in your social network<\/p>\n<\/section>\n<\/div>\n\nScotiabank warns on Canada’s budget update<\/a>\n2024-12-06 13:00:47<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"Breadcrumb Trail Links News Timing of fiscal refresh unknown with some saying it could land post-Christmas as rumours ‘swirl’ it won’t come at all Published Dec 06, 2024 \u00a0\u2022\u00a0 Last…<\/p>\n","protected":false},"author":2,"featured_media":53703,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[31],"tags":[],"class_list":{"0":"post-53702","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy"},"_links":{"self":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/53702","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/comments?post=53702"}],"version-history":[{"count":0,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/53702\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media\/53703"}],"wp:attachment":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media?parent=53702"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/categories?post=53702"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/tags?post=53702"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
Article content<\/p>\n
The provinces released their fiscal updates, sticking with the established timing of refreshing their finances in the fall, but the federal Liberal government has been so silent on the subject that one economist is suggesting Canadians might have to wait until after Christmas for a national update.<\/p>\n<\/section>\n
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or<\/span><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n\nArticle content<\/p>\n\u201cIt\u2019s not clear when \u2014 or even if \u2014 it will come before the holidays, but the writing is mostly on the wall,\u201d Rebekah Young, an economist at the Bank of Nova Scotia, said in a note on Wednesday, adding there are even rumours \u201cswirling\u201d that there won\u2019t be a fiscal update at all.<\/p>\n\u201cBut don\u2019t discount it yet even if the finance minister remains mum,\u201d she said, noting that the 2019 election and the pandemic pushed the federal fiscal update into December instead of the usual November release.<\/p>\nYoung nonetheless took a swing at what she thinks the statement might contain.<\/p>\n\u201cMore spending is clearly in the offing,\u201d she said, referring to the Liberals\u2019 recently announced GST holiday and $250 rebate cheques for working Canadians.<\/p>\nThe GST portion of that $6.3-billion fiscal stimulus package passed in the House of Commons on Nov. 28.<\/p>\n\u201cThe balance and then some is expected before long to keep Canadians from the polls a bit longer,\u201d she said.<\/p>\nThe stimulus package is the price the Liberals are paying to retain the support of the New Democratic Party and avoid losing a no-confidence vote. But Young thinks the NDP is pushing for even more spending.<\/p>\n<\/section>\n\n\n\n\n<\/div>\n\nPosthaste<\/p>\nBreaking business news, incisive views, must-reads and market signals. Weekdays by 9 a.m.<\/p>\n<\/div>\n<\/div>\n\n\nBy signing up you consent to receive the above newsletter from Postmedia Network Inc.<\/p>\n<\/div>\n\nThanks for signing up!<\/p>\nA welcome email is on its way. If you don’t see it, please check your junk folder.<\/p>\nThe next issue of Posthaste will soon be in your inbox.<\/p>\n<\/div>\nWe encountered an issue signing you up. Please try again<\/p>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n\nArticle content<\/p>\n<\/section>\n\n\nAdvertisement 3<\/p>\n\n\n\n\nThis advertisement has not loaded yet, but your article continues below.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n\nArticle content<\/p>\nShe said the Liberals may add $15 billion in net new spending in the fiscal update while \u201cmostly\u201d adhering to the fiscal guardrails it erected in the spring budget.<\/p>\n\u201cWe would find it incredulous if the government were to blow through its own near-term fiscal anchors within a year of setting them as recent economic conditions outperform against expectations,\u201d she said.<\/p>\nIn the 2024 budget, Finance Minister Chrystia Freeland pledged \u2014 as proof of the government\u2019s fiscal discipline \u2014 that government spending would not breach a $40.1-billion deficit in 2023-24.<\/p>\nRecently, however, the Parliamentary Budget Officer warned that the government has likely blown past its own limits. But there are plenty of reasons for the Liberals to hold their \u201cfiscal firepower\u201d in the update.<\/p>\nIncoming United States president Donald Trump\u2018s threatened 25 per cent tariffs on all Canadian goods entering the U.S. are a growth buster.<\/p>\n\u201cThe impacts of a second Trump presidency are largely unknowable, but biased to the downside for Canada under most scenarios,\u201d Young said, estimating that the uncertainty that is the president-elect\u2019s hallmark could shrink the Canadian\u00a0economy by 0.7 per cent over his term. A long-term tariff war could be \u201cmultiples worse.\u201d<\/p>\n<\/section>\n\n\nAdvertisement 4<\/p>\n\n\n\n\nThis advertisement has not loaded yet, but your article continues below.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n\nArticle content<\/p>\nIn an effort to deal with these threats and Trump\u2019s other demands, Young said the Liberals could move up a plan to spend two per cent of gross domestic product (GDP) on defence to 2030 from 2032, at a cost of tens of billions of dollars.<\/p>\n\u201cSpending now risks crowding out strategic investments down the road,\u201d she said.<\/p>\nThe budget\u2019s GDP outlook is also clouded by \u201chomegrown\u201d uncertainty around population growth.<\/p>\n\u201cThis would call for heightened caution in setting out a fiscal plan,\u201d Young said, adding that a \u201cone percentage point shock to real GDP could erode the budgetary balance by some $25 billion over five years before accounting for any discretionary spending.\u201d<\/p>\n\n\u00a0Sign up here to get Posthaste delivered straight to your inbox.<\/strong><\/em><\/p>\n\n<\/strong><\/p>\n<\/source><\/source><\/source><\/source><\/source><\/picture><\/figure>\nToronto-Dominion Bank\u00a0has suspended its medium-term financial targets as it looks to undergo a \u201cbroad and detailed\u201d review of its strategies, weeks after being sanctioned in the United States for failing to monitor money laundering activities.<\/p>\nAs a result of the strategic review, TD on Thursday said it would be \u201cchallenging\u201d to generate earnings growth, so it suspended its targets of seven per cent to 10 per cent earnings per share growth and 16 per cent return on equity. It will update the targets in the second half of 2025.<\/p>\n<\/section>\n\n\nAdvertisement 5<\/p>\n\n\n\n\nThis advertisement has not loaded yet, but your article continues below.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n\nArticle content<\/p>\n\u201cWe are looking at our business mix, including profitability and risk-adjusted return on capital, and where we need to invest and divest to improve. Everything is on the table,\u201d Raymond Chun, TD\u2019s chief operating officer who is set to succeed current chief executive Bharat Masrani next year, said on a conference call with analysts to discuss the bank\u2019s fourth-quarter results. \u2014 Naimul Karim, Financial Post<\/em><\/p>\nRead the full story here.<\/p>\n\n<\/p>\n\nToday\u2019s data: <\/strong>The U.S. Labor Department and Statistics Canada release jobs numbers for November. <\/strong><\/li>\nEarnings: <\/strong>BRP Inc., Laurentian Bank of Canada, Canadian Western Bank<\/li>\n<\/ul>\n\n<\/p>\n<\/source><\/source><\/source><\/source><\/source><\/picture><\/figure>\n\n\n<\/strong><\/p>\n\nRecommended from Editorial<\/p>\n<\/p>\n\n <\/picture>\nThe great wealth transfer might not be all it’s cracked up to be<\/span><\/p>\n<\/li>\n <\/picture>\nProfit and investment plunge signals trouble for Corporate Canada<\/span><\/p>\n<\/li>\n<\/ol>\n<\/section>\n<\/section>\n\n\nAdvertisement 6<\/p>\n\n\n\n\nThis advertisement has not loaded yet, but your article continues below.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n\nArticle content<\/p>\n\n<\/p>\nMarkets are betting on a quarter-point cut to the Bank of Canada\u2019s policy rate next week, which means the prime rate should fall to 5.70 per cent for the first time in more than two years. That\u2019s the good news, writes MortgageLogic.news strategist Robert McLister. The bad news is the leading variable rate discounts from prime are shrinking. Find out more about the best rates for mortgages here.<\/p>\n\nHard Earned Truth<\/h3>\nIn an ongoing series about what the next generation needs to know to build wealth, we offer another hard earned truth: Good debt can boost investment wealth, but beware its bad twin.\u00a0<\/span><\/p>\n\nMcLister on mortgages<\/h3>\nWant to learn more about mortgages? Mortgage strategist Robert McLister\u2019s Financial Post column can help navigate the complex sector, from the latest trends to financing opportunities you won\u2019t want to miss. Read them here\u00a0<\/p>\n\nFinancial Post on YouTube<\/h3>\nVisit Financial Post\u2019s YouTube channel for interviews with Canada\u2019s leading experts in economics, housing, the energy sector and more.<\/p>\n\nToday\u2019s Posthaste was written by Gigi Suhanic, with additional reporting from Financial Post staff, The Canadian Press and Bloomberg.<\/em><\/p>\nHave a story idea, pitch, embargoed report, or a suggestion for this newsletter? Email us at\u00a0posthaste@postmedia.com.<\/p>\n\nBookmark our website and support our journalism:<\/strong> Don\u2019t miss the business news you need to know \u2014 add\u00a0financialpost.com\u00a0to your bookmarks and sign up for our newsletters here.<\/em><\/p>\n<\/section>\n\nArticle content<\/p>\n<\/section>\n\nShare this article in your social network<\/p>\n<\/section>\n<\/div>\n\nScotiabank warns on Canada’s budget update<\/a>\n2024-12-06 13:00:47<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"Breadcrumb Trail Links News Timing of fiscal refresh unknown with some saying it could land post-Christmas as rumours ‘swirl’ it won’t come at all Published Dec 06, 2024 \u00a0\u2022\u00a0 Last…<\/p>\n","protected":false},"author":2,"featured_media":53703,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[31],"tags":[],"class_list":{"0":"post-53702","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy"},"_links":{"self":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/53702","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/comments?post=53702"}],"version-history":[{"count":0,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/53702\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media\/53703"}],"wp:attachment":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media?parent=53702"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/categories?post=53702"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/tags?post=53702"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\u201cIt\u2019s not clear when \u2014 or even if \u2014 it will come before the holidays, but the writing is mostly on the wall,\u201d Rebekah Young, an economist at the Bank of Nova Scotia, said in a note on Wednesday, adding there are even rumours \u201cswirling\u201d that there won\u2019t be a fiscal update at all.<\/p>\n
\u201cBut don\u2019t discount it yet even if the finance minister remains mum,\u201d she said, noting that the 2019 election and the pandemic pushed the federal fiscal update into December instead of the usual November release.<\/p>\n
Young nonetheless took a swing at what she thinks the statement might contain.<\/p>\n
\u201cMore spending is clearly in the offing,\u201d she said, referring to the Liberals\u2019 recently announced GST holiday and $250 rebate cheques for working Canadians.<\/p>\n
The GST portion of that $6.3-billion fiscal stimulus package passed in the House of Commons on Nov. 28.<\/p>\n
\u201cThe balance and then some is expected before long to keep Canadians from the polls a bit longer,\u201d she said.<\/p>\n
The stimulus package is the price the Liberals are paying to retain the support of the New Democratic Party and avoid losing a no-confidence vote. But Young thinks the NDP is pushing for even more spending.<\/p>\n<\/section>\n
Posthaste<\/p>\n
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Please try again<\/p>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n\nArticle content<\/p>\n<\/section>\n\n\nAdvertisement 3<\/p>\n\n\n\n\nThis advertisement has not loaded yet, but your article continues below.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n\nArticle content<\/p>\nShe said the Liberals may add $15 billion in net new spending in the fiscal update while \u201cmostly\u201d adhering to the fiscal guardrails it erected in the spring budget.<\/p>\n\u201cWe would find it incredulous if the government were to blow through its own near-term fiscal anchors within a year of setting them as recent economic conditions outperform against expectations,\u201d she said.<\/p>\nIn the 2024 budget, Finance Minister Chrystia Freeland pledged \u2014 as proof of the government\u2019s fiscal discipline \u2014 that government spending would not breach a $40.1-billion deficit in 2023-24.<\/p>\nRecently, however, the Parliamentary Budget Officer warned that the government has likely blown past its own limits. But there are plenty of reasons for the Liberals to hold their \u201cfiscal firepower\u201d in the update.<\/p>\nIncoming United States president Donald Trump\u2018s threatened 25 per cent tariffs on all Canadian goods entering the U.S. are a growth buster.<\/p>\n\u201cThe impacts of a second Trump presidency are largely unknowable, but biased to the downside for Canada under most scenarios,\u201d Young said, estimating that the uncertainty that is the president-elect\u2019s hallmark could shrink the Canadian\u00a0economy by 0.7 per cent over his term. A long-term tariff war could be \u201cmultiples worse.\u201d<\/p>\n<\/section>\n\n\nAdvertisement 4<\/p>\n\n\n\n\nThis advertisement has not loaded yet, but your article continues below.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n\nArticle content<\/p>\nIn an effort to deal with these threats and Trump\u2019s other demands, Young said the Liberals could move up a plan to spend two per cent of gross domestic product (GDP) on defence to 2030 from 2032, at a cost of tens of billions of dollars.<\/p>\n\u201cSpending now risks crowding out strategic investments down the road,\u201d she said.<\/p>\nThe budget\u2019s GDP outlook is also clouded by \u201chomegrown\u201d uncertainty around population growth.<\/p>\n\u201cThis would call for heightened caution in setting out a fiscal plan,\u201d Young said, adding that a \u201cone percentage point shock to real GDP could erode the budgetary balance by some $25 billion over five years before accounting for any discretionary spending.\u201d<\/p>\n\n\u00a0Sign up here to get Posthaste delivered straight to your inbox.<\/strong><\/em><\/p>\n\n<\/strong><\/p>\n<\/source><\/source><\/source><\/source><\/source><\/picture><\/figure>\nToronto-Dominion Bank\u00a0has suspended its medium-term financial targets as it looks to undergo a \u201cbroad and detailed\u201d review of its strategies, weeks after being sanctioned in the United States for failing to monitor money laundering activities.<\/p>\nAs a result of the strategic review, TD on Thursday said it would be \u201cchallenging\u201d to generate earnings growth, so it suspended its targets of seven per cent to 10 per cent earnings per share growth and 16 per cent return on equity. It will update the targets in the second half of 2025.<\/p>\n<\/section>\n\n\nAdvertisement 5<\/p>\n\n\n\n\nThis advertisement has not loaded yet, but your article continues below.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n\nArticle content<\/p>\n\u201cWe are looking at our business mix, including profitability and risk-adjusted return on capital, and where we need to invest and divest to improve. Everything is on the table,\u201d Raymond Chun, TD\u2019s chief operating officer who is set to succeed current chief executive Bharat Masrani next year, said on a conference call with analysts to discuss the bank\u2019s fourth-quarter results. \u2014 Naimul Karim, Financial Post<\/em><\/p>\nRead the full story here.<\/p>\n\n<\/p>\n\nToday\u2019s data: <\/strong>The U.S. Labor Department and Statistics Canada release jobs numbers for November. <\/strong><\/li>\nEarnings: <\/strong>BRP Inc., Laurentian Bank of Canada, Canadian Western Bank<\/li>\n<\/ul>\n\n<\/p>\n<\/source><\/source><\/source><\/source><\/source><\/picture><\/figure>\n\n\n<\/strong><\/p>\n\nRecommended from Editorial<\/p>\n<\/p>\n\n <\/picture>\nThe great wealth transfer might not be all it’s cracked up to be<\/span><\/p>\n<\/li>\n <\/picture>\nProfit and investment plunge signals trouble for Corporate Canada<\/span><\/p>\n<\/li>\n<\/ol>\n<\/section>\n<\/section>\n\n\nAdvertisement 6<\/p>\n\n\n\n\nThis advertisement has not loaded yet, but your article continues below.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n\nArticle content<\/p>\n\n<\/p>\nMarkets are betting on a quarter-point cut to the Bank of Canada\u2019s policy rate next week, which means the prime rate should fall to 5.70 per cent for the first time in more than two years. That\u2019s the good news, writes MortgageLogic.news strategist Robert McLister. The bad news is the leading variable rate discounts from prime are shrinking. Find out more about the best rates for mortgages here.<\/p>\n\nHard Earned Truth<\/h3>\nIn an ongoing series about what the next generation needs to know to build wealth, we offer another hard earned truth: Good debt can boost investment wealth, but beware its bad twin.\u00a0<\/span><\/p>\n\nMcLister on mortgages<\/h3>\nWant to learn more about mortgages? Mortgage strategist Robert McLister\u2019s Financial Post column can help navigate the complex sector, from the latest trends to financing opportunities you won\u2019t want to miss. Read them here\u00a0<\/p>\n\nFinancial Post on YouTube<\/h3>\nVisit Financial Post\u2019s YouTube channel for interviews with Canada\u2019s leading experts in economics, housing, the energy sector and more.<\/p>\n\nToday\u2019s Posthaste was written by Gigi Suhanic, with additional reporting from Financial Post staff, The Canadian Press and Bloomberg.<\/em><\/p>\nHave a story idea, pitch, embargoed report, or a suggestion for this newsletter? Email us at\u00a0posthaste@postmedia.com.<\/p>\n\nBookmark our website and support our journalism:<\/strong> Don\u2019t miss the business news you need to know \u2014 add\u00a0financialpost.com\u00a0to your bookmarks and sign up for our newsletters here.<\/em><\/p>\n<\/section>\n\nArticle content<\/p>\n<\/section>\n\nShare this article in your social network<\/p>\n<\/section>\n<\/div>\n\nScotiabank warns on Canada’s budget update<\/a>\n2024-12-06 13:00:47<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"Breadcrumb Trail Links News Timing of fiscal refresh unknown with some saying it could land post-Christmas as rumours ‘swirl’ it won’t come at all Published Dec 06, 2024 \u00a0\u2022\u00a0 Last…<\/p>\n","protected":false},"author":2,"featured_media":53703,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[31],"tags":[],"class_list":{"0":"post-53702","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy"},"_links":{"self":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/53702","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/comments?post=53702"}],"version-history":[{"count":0,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/53702\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media\/53703"}],"wp:attachment":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media?parent=53702"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/categories?post=53702"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/tags?post=53702"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
Article content<\/p>\n<\/section>\n
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This advertisement has not loaded yet, but your article continues below.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n\nArticle content<\/p>\nShe said the Liberals may add $15 billion in net new spending in the fiscal update while \u201cmostly\u201d adhering to the fiscal guardrails it erected in the spring budget.<\/p>\n\u201cWe would find it incredulous if the government were to blow through its own near-term fiscal anchors within a year of setting them as recent economic conditions outperform against expectations,\u201d she said.<\/p>\nIn the 2024 budget, Finance Minister Chrystia Freeland pledged \u2014 as proof of the government\u2019s fiscal discipline \u2014 that government spending would not breach a $40.1-billion deficit in 2023-24.<\/p>\nRecently, however, the Parliamentary Budget Officer warned that the government has likely blown past its own limits. But there are plenty of reasons for the Liberals to hold their \u201cfiscal firepower\u201d in the update.<\/p>\nIncoming United States president Donald Trump\u2018s threatened 25 per cent tariffs on all Canadian goods entering the U.S. are a growth buster.<\/p>\n\u201cThe impacts of a second Trump presidency are largely unknowable, but biased to the downside for Canada under most scenarios,\u201d Young said, estimating that the uncertainty that is the president-elect\u2019s hallmark could shrink the Canadian\u00a0economy by 0.7 per cent over his term. A long-term tariff war could be \u201cmultiples worse.\u201d<\/p>\n<\/section>\n\n\nAdvertisement 4<\/p>\n\n\n\n\nThis advertisement has not loaded yet, but your article continues below.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n\nArticle content<\/p>\nIn an effort to deal with these threats and Trump\u2019s other demands, Young said the Liberals could move up a plan to spend two per cent of gross domestic product (GDP) on defence to 2030 from 2032, at a cost of tens of billions of dollars.<\/p>\n\u201cSpending now risks crowding out strategic investments down the road,\u201d she said.<\/p>\nThe budget\u2019s GDP outlook is also clouded by \u201chomegrown\u201d uncertainty around population growth.<\/p>\n\u201cThis would call for heightened caution in setting out a fiscal plan,\u201d Young said, adding that a \u201cone percentage point shock to real GDP could erode the budgetary balance by some $25 billion over five years before accounting for any discretionary spending.\u201d<\/p>\n\n\u00a0Sign up here to get Posthaste delivered straight to your inbox.<\/strong><\/em><\/p>\n\n<\/strong><\/p>\n<\/source><\/source><\/source><\/source><\/source><\/picture><\/figure>\nToronto-Dominion Bank\u00a0has suspended its medium-term financial targets as it looks to undergo a \u201cbroad and detailed\u201d review of its strategies, weeks after being sanctioned in the United States for failing to monitor money laundering activities.<\/p>\nAs a result of the strategic review, TD on Thursday said it would be \u201cchallenging\u201d to generate earnings growth, so it suspended its targets of seven per cent to 10 per cent earnings per share growth and 16 per cent return on equity. It will update the targets in the second half of 2025.<\/p>\n<\/section>\n\n\nAdvertisement 5<\/p>\n\n\n\n\nThis advertisement has not loaded yet, but your article continues below.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n\nArticle content<\/p>\n\u201cWe are looking at our business mix, including profitability and risk-adjusted return on capital, and where we need to invest and divest to improve. Everything is on the table,\u201d Raymond Chun, TD\u2019s chief operating officer who is set to succeed current chief executive Bharat Masrani next year, said on a conference call with analysts to discuss the bank\u2019s fourth-quarter results. \u2014 Naimul Karim, Financial Post<\/em><\/p>\nRead the full story here.<\/p>\n\n<\/p>\n\nToday\u2019s data: <\/strong>The U.S. Labor Department and Statistics Canada release jobs numbers for November. <\/strong><\/li>\nEarnings: <\/strong>BRP Inc., Laurentian Bank of Canada, Canadian Western Bank<\/li>\n<\/ul>\n\n<\/p>\n<\/source><\/source><\/source><\/source><\/source><\/picture><\/figure>\n\n\n<\/strong><\/p>\n\nRecommended from Editorial<\/p>\n<\/p>\n\n <\/picture>\nThe great wealth transfer might not be all it’s cracked up to be<\/span><\/p>\n<\/li>\n <\/picture>\nProfit and investment plunge signals trouble for Corporate Canada<\/span><\/p>\n<\/li>\n<\/ol>\n<\/section>\n<\/section>\n\n\nAdvertisement 6<\/p>\n\n\n\n\nThis advertisement has not loaded yet, but your article continues below.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n\nArticle content<\/p>\n\n<\/p>\nMarkets are betting on a quarter-point cut to the Bank of Canada\u2019s policy rate next week, which means the prime rate should fall to 5.70 per cent for the first time in more than two years. That\u2019s the good news, writes MortgageLogic.news strategist Robert McLister. The bad news is the leading variable rate discounts from prime are shrinking. Find out more about the best rates for mortgages here.<\/p>\n\nHard Earned Truth<\/h3>\nIn an ongoing series about what the next generation needs to know to build wealth, we offer another hard earned truth: Good debt can boost investment wealth, but beware its bad twin.\u00a0<\/span><\/p>\n\nMcLister on mortgages<\/h3>\nWant to learn more about mortgages? Mortgage strategist Robert McLister\u2019s Financial Post column can help navigate the complex sector, from the latest trends to financing opportunities you won\u2019t want to miss. Read them here\u00a0<\/p>\n\nFinancial Post on YouTube<\/h3>\nVisit Financial Post\u2019s YouTube channel for interviews with Canada\u2019s leading experts in economics, housing, the energy sector and more.<\/p>\n\nToday\u2019s Posthaste was written by Gigi Suhanic, with additional reporting from Financial Post staff, The Canadian Press and Bloomberg.<\/em><\/p>\nHave a story idea, pitch, embargoed report, or a suggestion for this newsletter? Email us at\u00a0posthaste@postmedia.com.<\/p>\n\nBookmark our website and support our journalism:<\/strong> Don\u2019t miss the business news you need to know \u2014 add\u00a0financialpost.com\u00a0to your bookmarks and sign up for our newsletters here.<\/em><\/p>\n<\/section>\n\nArticle content<\/p>\n<\/section>\n\nShare this article in your social network<\/p>\n<\/section>\n<\/div>\n\nScotiabank warns on Canada’s budget update<\/a>\n2024-12-06 13:00:47<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"Breadcrumb Trail Links News Timing of fiscal refresh unknown with some saying it could land post-Christmas as rumours ‘swirl’ it won’t come at all Published Dec 06, 2024 \u00a0\u2022\u00a0 Last…<\/p>\n","protected":false},"author":2,"featured_media":53703,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[31],"tags":[],"class_list":{"0":"post-53702","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy"},"_links":{"self":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/53702","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/comments?post=53702"}],"version-history":[{"count":0,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/53702\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media\/53703"}],"wp:attachment":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media?parent=53702"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/categories?post=53702"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/tags?post=53702"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
She said the Liberals may add $15 billion in net new spending in the fiscal update while \u201cmostly\u201d adhering to the fiscal guardrails it erected in the spring budget.<\/p>\n
\u201cWe would find it incredulous if the government were to blow through its own near-term fiscal anchors within a year of setting them as recent economic conditions outperform against expectations,\u201d she said.<\/p>\n
In the 2024 budget, Finance Minister Chrystia Freeland pledged \u2014 as proof of the government\u2019s fiscal discipline \u2014 that government spending would not breach a $40.1-billion deficit in 2023-24.<\/p>\n
Recently, however, the Parliamentary Budget Officer warned that the government has likely blown past its own limits. But there are plenty of reasons for the Liberals to hold their \u201cfiscal firepower\u201d in the update.<\/p>\n
Incoming United States president Donald Trump\u2018s threatened 25 per cent tariffs on all Canadian goods entering the U.S. are a growth buster.<\/p>\n
\u201cThe impacts of a second Trump presidency are largely unknowable, but biased to the downside for Canada under most scenarios,\u201d Young said, estimating that the uncertainty that is the president-elect\u2019s hallmark could shrink the Canadian\u00a0economy by 0.7 per cent over his term. A long-term tariff war could be \u201cmultiples worse.\u201d<\/p>\n<\/section>\n
Advertisement 4<\/p>\n
This advertisement has not loaded yet, but your article continues below.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n\nArticle content<\/p>\nIn an effort to deal with these threats and Trump\u2019s other demands, Young said the Liberals could move up a plan to spend two per cent of gross domestic product (GDP) on defence to 2030 from 2032, at a cost of tens of billions of dollars.<\/p>\n\u201cSpending now risks crowding out strategic investments down the road,\u201d she said.<\/p>\nThe budget\u2019s GDP outlook is also clouded by \u201chomegrown\u201d uncertainty around population growth.<\/p>\n\u201cThis would call for heightened caution in setting out a fiscal plan,\u201d Young said, adding that a \u201cone percentage point shock to real GDP could erode the budgetary balance by some $25 billion over five years before accounting for any discretionary spending.\u201d<\/p>\n\n\u00a0Sign up here to get Posthaste delivered straight to your inbox.<\/strong><\/em><\/p>\n\n<\/strong><\/p>\n<\/source><\/source><\/source><\/source><\/source><\/picture><\/figure>\nToronto-Dominion Bank\u00a0has suspended its medium-term financial targets as it looks to undergo a \u201cbroad and detailed\u201d review of its strategies, weeks after being sanctioned in the United States for failing to monitor money laundering activities.<\/p>\nAs a result of the strategic review, TD on Thursday said it would be \u201cchallenging\u201d to generate earnings growth, so it suspended its targets of seven per cent to 10 per cent earnings per share growth and 16 per cent return on equity. It will update the targets in the second half of 2025.<\/p>\n<\/section>\n\n\nAdvertisement 5<\/p>\n\n\n\n\nThis advertisement has not loaded yet, but your article continues below.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n\nArticle content<\/p>\n\u201cWe are looking at our business mix, including profitability and risk-adjusted return on capital, and where we need to invest and divest to improve. Everything is on the table,\u201d Raymond Chun, TD\u2019s chief operating officer who is set to succeed current chief executive Bharat Masrani next year, said on a conference call with analysts to discuss the bank\u2019s fourth-quarter results. \u2014 Naimul Karim, Financial Post<\/em><\/p>\nRead the full story here.<\/p>\n\n<\/p>\n\nToday\u2019s data: <\/strong>The U.S. Labor Department and Statistics Canada release jobs numbers for November. <\/strong><\/li>\nEarnings: <\/strong>BRP Inc., Laurentian Bank of Canada, Canadian Western Bank<\/li>\n<\/ul>\n\n<\/p>\n<\/source><\/source><\/source><\/source><\/source><\/picture><\/figure>\n\n\n<\/strong><\/p>\n\nRecommended from Editorial<\/p>\n<\/p>\n\n <\/picture>\nThe great wealth transfer might not be all it’s cracked up to be<\/span><\/p>\n<\/li>\n <\/picture>\nProfit and investment plunge signals trouble for Corporate Canada<\/span><\/p>\n<\/li>\n<\/ol>\n<\/section>\n<\/section>\n\n\nAdvertisement 6<\/p>\n\n\n\n\nThis advertisement has not loaded yet, but your article continues below.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n\nArticle content<\/p>\n\n<\/p>\nMarkets are betting on a quarter-point cut to the Bank of Canada\u2019s policy rate next week, which means the prime rate should fall to 5.70 per cent for the first time in more than two years. That\u2019s the good news, writes MortgageLogic.news strategist Robert McLister. The bad news is the leading variable rate discounts from prime are shrinking. Find out more about the best rates for mortgages here.<\/p>\n\nHard Earned Truth<\/h3>\nIn an ongoing series about what the next generation needs to know to build wealth, we offer another hard earned truth: Good debt can boost investment wealth, but beware its bad twin.\u00a0<\/span><\/p>\n\nMcLister on mortgages<\/h3>\nWant to learn more about mortgages? Mortgage strategist Robert McLister\u2019s Financial Post column can help navigate the complex sector, from the latest trends to financing opportunities you won\u2019t want to miss. Read them here\u00a0<\/p>\n\nFinancial Post on YouTube<\/h3>\nVisit Financial Post\u2019s YouTube channel for interviews with Canada\u2019s leading experts in economics, housing, the energy sector and more.<\/p>\n\nToday\u2019s Posthaste was written by Gigi Suhanic, with additional reporting from Financial Post staff, The Canadian Press and Bloomberg.<\/em><\/p>\nHave a story idea, pitch, embargoed report, or a suggestion for this newsletter? Email us at\u00a0posthaste@postmedia.com.<\/p>\n\nBookmark our website and support our journalism:<\/strong> Don\u2019t miss the business news you need to know \u2014 add\u00a0financialpost.com\u00a0to your bookmarks and sign up for our newsletters here.<\/em><\/p>\n<\/section>\n\nArticle content<\/p>\n<\/section>\n\nShare this article in your social network<\/p>\n<\/section>\n<\/div>\n\nScotiabank warns on Canada’s budget update<\/a>\n2024-12-06 13:00:47<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"Breadcrumb Trail Links News Timing of fiscal refresh unknown with some saying it could land post-Christmas as rumours ‘swirl’ it won’t come at all Published Dec 06, 2024 \u00a0\u2022\u00a0 Last…<\/p>\n","protected":false},"author":2,"featured_media":53703,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[31],"tags":[],"class_list":{"0":"post-53702","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy"},"_links":{"self":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/53702","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/comments?post=53702"}],"version-history":[{"count":0,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/53702\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media\/53703"}],"wp:attachment":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media?parent=53702"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/categories?post=53702"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/tags?post=53702"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
In an effort to deal with these threats and Trump\u2019s other demands, Young said the Liberals could move up a plan to spend two per cent of gross domestic product (GDP) on defence to 2030 from 2032, at a cost of tens of billions of dollars.<\/p>\n
\u201cSpending now risks crowding out strategic investments down the road,\u201d she said.<\/p>\n
The budget\u2019s GDP outlook is also clouded by \u201chomegrown\u201d uncertainty around population growth.<\/p>\n
\u201cThis would call for heightened caution in setting out a fiscal plan,\u201d Young said, adding that a \u201cone percentage point shock to real GDP could erode the budgetary balance by some $25 billion over five years before accounting for any discretionary spending.\u201d<\/p>\n\n
\u00a0Sign up here to get Posthaste delivered straight to your inbox.<\/strong><\/em><\/p>\n\n<\/strong><\/p>\n<\/source><\/source><\/source><\/source><\/source><\/picture><\/figure>\nToronto-Dominion Bank\u00a0has suspended its medium-term financial targets as it looks to undergo a \u201cbroad and detailed\u201d review of its strategies, weeks after being sanctioned in the United States for failing to monitor money laundering activities.<\/p>\nAs a result of the strategic review, TD on Thursday said it would be \u201cchallenging\u201d to generate earnings growth, so it suspended its targets of seven per cent to 10 per cent earnings per share growth and 16 per cent return on equity. It will update the targets in the second half of 2025.<\/p>\n<\/section>\n\n\nAdvertisement 5<\/p>\n\n\n\n\nThis advertisement has not loaded yet, but your article continues below.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n\nArticle content<\/p>\n\u201cWe are looking at our business mix, including profitability and risk-adjusted return on capital, and where we need to invest and divest to improve. Everything is on the table,\u201d Raymond Chun, TD\u2019s chief operating officer who is set to succeed current chief executive Bharat Masrani next year, said on a conference call with analysts to discuss the bank\u2019s fourth-quarter results. \u2014 Naimul Karim, Financial Post<\/em><\/p>\nRead the full story here.<\/p>\n\n<\/p>\n\nToday\u2019s data: <\/strong>The U.S. Labor Department and Statistics Canada release jobs numbers for November. <\/strong><\/li>\nEarnings: <\/strong>BRP Inc., Laurentian Bank of Canada, Canadian Western Bank<\/li>\n<\/ul>\n\n<\/p>\n<\/source><\/source><\/source><\/source><\/source><\/picture><\/figure>\n\n\n<\/strong><\/p>\n\nRecommended from Editorial<\/p>\n<\/p>\n\n <\/picture>\nThe great wealth transfer might not be all it’s cracked up to be<\/span><\/p>\n<\/li>\n <\/picture>\nProfit and investment plunge signals trouble for Corporate Canada<\/span><\/p>\n<\/li>\n<\/ol>\n<\/section>\n<\/section>\n\n\nAdvertisement 6<\/p>\n\n\n\n\nThis advertisement has not loaded yet, but your article continues below.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n\nArticle content<\/p>\n\n<\/p>\nMarkets are betting on a quarter-point cut to the Bank of Canada\u2019s policy rate next week, which means the prime rate should fall to 5.70 per cent for the first time in more than two years. That\u2019s the good news, writes MortgageLogic.news strategist Robert McLister. The bad news is the leading variable rate discounts from prime are shrinking. Find out more about the best rates for mortgages here.<\/p>\n\nHard Earned Truth<\/h3>\nIn an ongoing series about what the next generation needs to know to build wealth, we offer another hard earned truth: Good debt can boost investment wealth, but beware its bad twin.\u00a0<\/span><\/p>\n\nMcLister on mortgages<\/h3>\nWant to learn more about mortgages? Mortgage strategist Robert McLister\u2019s Financial Post column can help navigate the complex sector, from the latest trends to financing opportunities you won\u2019t want to miss. Read them here\u00a0<\/p>\n\nFinancial Post on YouTube<\/h3>\nVisit Financial Post\u2019s YouTube channel for interviews with Canada\u2019s leading experts in economics, housing, the energy sector and more.<\/p>\n\nToday\u2019s Posthaste was written by Gigi Suhanic, with additional reporting from Financial Post staff, The Canadian Press and Bloomberg.<\/em><\/p>\nHave a story idea, pitch, embargoed report, or a suggestion for this newsletter? Email us at\u00a0posthaste@postmedia.com.<\/p>\n\nBookmark our website and support our journalism:<\/strong> Don\u2019t miss the business news you need to know \u2014 add\u00a0financialpost.com\u00a0to your bookmarks and sign up for our newsletters here.<\/em><\/p>\n<\/section>\n\nArticle content<\/p>\n<\/section>\n\nShare this article in your social network<\/p>\n<\/section>\n<\/div>\n\nScotiabank warns on Canada’s budget update<\/a>\n2024-12-06 13:00:47<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"Breadcrumb Trail Links News Timing of fiscal refresh unknown with some saying it could land post-Christmas as rumours ‘swirl’ it won’t come at all Published Dec 06, 2024 \u00a0\u2022\u00a0 Last…<\/p>\n","protected":false},"author":2,"featured_media":53703,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[31],"tags":[],"class_list":{"0":"post-53702","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy"},"_links":{"self":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/53702","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/comments?post=53702"}],"version-history":[{"count":0,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/53702\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media\/53703"}],"wp:attachment":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media?parent=53702"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/categories?post=53702"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/tags?post=53702"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
<\/strong><\/p>\n<\/source><\/source><\/source><\/source><\/source><\/picture><\/figure>\nToronto-Dominion Bank\u00a0has suspended its medium-term financial targets as it looks to undergo a \u201cbroad and detailed\u201d review of its strategies, weeks after being sanctioned in the United States for failing to monitor money laundering activities.<\/p>\nAs a result of the strategic review, TD on Thursday said it would be \u201cchallenging\u201d to generate earnings growth, so it suspended its targets of seven per cent to 10 per cent earnings per share growth and 16 per cent return on equity. It will update the targets in the second half of 2025.<\/p>\n<\/section>\n\n\nAdvertisement 5<\/p>\n\n\n\n\nThis advertisement has not loaded yet, but your article continues below.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n\nArticle content<\/p>\n\u201cWe are looking at our business mix, including profitability and risk-adjusted return on capital, and where we need to invest and divest to improve. Everything is on the table,\u201d Raymond Chun, TD\u2019s chief operating officer who is set to succeed current chief executive Bharat Masrani next year, said on a conference call with analysts to discuss the bank\u2019s fourth-quarter results. \u2014 Naimul Karim, Financial Post<\/em><\/p>\nRead the full story here.<\/p>\n\n<\/p>\n\nToday\u2019s data: <\/strong>The U.S. Labor Department and Statistics Canada release jobs numbers for November. <\/strong><\/li>\nEarnings: <\/strong>BRP Inc., Laurentian Bank of Canada, Canadian Western Bank<\/li>\n<\/ul>\n\n<\/p>\n<\/source><\/source><\/source><\/source><\/source><\/picture><\/figure>\n\n\n<\/strong><\/p>\n\nRecommended from Editorial<\/p>\n<\/p>\n\n <\/picture>\nThe great wealth transfer might not be all it’s cracked up to be<\/span><\/p>\n<\/li>\n <\/picture>\nProfit and investment plunge signals trouble for Corporate Canada<\/span><\/p>\n<\/li>\n<\/ol>\n<\/section>\n<\/section>\n\n\nAdvertisement 6<\/p>\n\n\n\n\nThis advertisement has not loaded yet, but your article continues below.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n\nArticle content<\/p>\n\n<\/p>\nMarkets are betting on a quarter-point cut to the Bank of Canada\u2019s policy rate next week, which means the prime rate should fall to 5.70 per cent for the first time in more than two years. That\u2019s the good news, writes MortgageLogic.news strategist Robert McLister. The bad news is the leading variable rate discounts from prime are shrinking. Find out more about the best rates for mortgages here.<\/p>\n\nHard Earned Truth<\/h3>\nIn an ongoing series about what the next generation needs to know to build wealth, we offer another hard earned truth: Good debt can boost investment wealth, but beware its bad twin.\u00a0<\/span><\/p>\n\nMcLister on mortgages<\/h3>\nWant to learn more about mortgages? Mortgage strategist Robert McLister\u2019s Financial Post column can help navigate the complex sector, from the latest trends to financing opportunities you won\u2019t want to miss. Read them here\u00a0<\/p>\n\nFinancial Post on YouTube<\/h3>\nVisit Financial Post\u2019s YouTube channel for interviews with Canada\u2019s leading experts in economics, housing, the energy sector and more.<\/p>\n\nToday\u2019s Posthaste was written by Gigi Suhanic, with additional reporting from Financial Post staff, The Canadian Press and Bloomberg.<\/em><\/p>\nHave a story idea, pitch, embargoed report, or a suggestion for this newsletter? Email us at\u00a0posthaste@postmedia.com.<\/p>\n\nBookmark our website and support our journalism:<\/strong> Don\u2019t miss the business news you need to know \u2014 add\u00a0financialpost.com\u00a0to your bookmarks and sign up for our newsletters here.<\/em><\/p>\n<\/section>\n\nArticle content<\/p>\n<\/section>\n\nShare this article in your social network<\/p>\n<\/section>\n<\/div>\n\nScotiabank warns on Canada’s budget update<\/a>\n2024-12-06 13:00:47<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"Breadcrumb Trail Links News Timing of fiscal refresh unknown with some saying it could land post-Christmas as rumours ‘swirl’ it won’t come at all Published Dec 06, 2024 \u00a0\u2022\u00a0 Last…<\/p>\n","protected":false},"author":2,"featured_media":53703,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[31],"tags":[],"class_list":{"0":"post-53702","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy"},"_links":{"self":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/53702","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/comments?post=53702"}],"version-history":[{"count":0,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/53702\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media\/53703"}],"wp:attachment":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media?parent=53702"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/categories?post=53702"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/tags?post=53702"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
Toronto-Dominion Bank\u00a0has suspended its medium-term financial targets as it looks to undergo a \u201cbroad and detailed\u201d review of its strategies, weeks after being sanctioned in the United States for failing to monitor money laundering activities.<\/p>\n
As a result of the strategic review, TD on Thursday said it would be \u201cchallenging\u201d to generate earnings growth, so it suspended its targets of seven per cent to 10 per cent earnings per share growth and 16 per cent return on equity. It will update the targets in the second half of 2025.<\/p>\n<\/section>\n
Advertisement 5<\/p>\n
This advertisement has not loaded yet, but your article continues below.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n\nArticle content<\/p>\n\u201cWe are looking at our business mix, including profitability and risk-adjusted return on capital, and where we need to invest and divest to improve. Everything is on the table,\u201d Raymond Chun, TD\u2019s chief operating officer who is set to succeed current chief executive Bharat Masrani next year, said on a conference call with analysts to discuss the bank\u2019s fourth-quarter results. \u2014 Naimul Karim, Financial Post<\/em><\/p>\nRead the full story here.<\/p>\n\n<\/p>\n\nToday\u2019s data: <\/strong>The U.S. Labor Department and Statistics Canada release jobs numbers for November. <\/strong><\/li>\nEarnings: <\/strong>BRP Inc., Laurentian Bank of Canada, Canadian Western Bank<\/li>\n<\/ul>\n\n<\/p>\n<\/source><\/source><\/source><\/source><\/source><\/picture><\/figure>\n\n\n<\/strong><\/p>\n\nRecommended from Editorial<\/p>\n<\/p>\n\n <\/picture>\nThe great wealth transfer might not be all it’s cracked up to be<\/span><\/p>\n<\/li>\n <\/picture>\nProfit and investment plunge signals trouble for Corporate Canada<\/span><\/p>\n<\/li>\n<\/ol>\n<\/section>\n<\/section>\n\n\nAdvertisement 6<\/p>\n\n\n\n\nThis advertisement has not loaded yet, but your article continues below.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n\nArticle content<\/p>\n\n<\/p>\nMarkets are betting on a quarter-point cut to the Bank of Canada\u2019s policy rate next week, which means the prime rate should fall to 5.70 per cent for the first time in more than two years. That\u2019s the good news, writes MortgageLogic.news strategist Robert McLister. The bad news is the leading variable rate discounts from prime are shrinking. Find out more about the best rates for mortgages here.<\/p>\n\nHard Earned Truth<\/h3>\nIn an ongoing series about what the next generation needs to know to build wealth, we offer another hard earned truth: Good debt can boost investment wealth, but beware its bad twin.\u00a0<\/span><\/p>\n\nMcLister on mortgages<\/h3>\nWant to learn more about mortgages? Mortgage strategist Robert McLister\u2019s Financial Post column can help navigate the complex sector, from the latest trends to financing opportunities you won\u2019t want to miss. Read them here\u00a0<\/p>\n\nFinancial Post on YouTube<\/h3>\nVisit Financial Post\u2019s YouTube channel for interviews with Canada\u2019s leading experts in economics, housing, the energy sector and more.<\/p>\n\nToday\u2019s Posthaste was written by Gigi Suhanic, with additional reporting from Financial Post staff, The Canadian Press and Bloomberg.<\/em><\/p>\nHave a story idea, pitch, embargoed report, or a suggestion for this newsletter? Email us at\u00a0posthaste@postmedia.com.<\/p>\n\nBookmark our website and support our journalism:<\/strong> Don\u2019t miss the business news you need to know \u2014 add\u00a0financialpost.com\u00a0to your bookmarks and sign up for our newsletters here.<\/em><\/p>\n<\/section>\n\nArticle content<\/p>\n<\/section>\n\nShare this article in your social network<\/p>\n<\/section>\n<\/div>\n\nScotiabank warns on Canada’s budget update<\/a>\n2024-12-06 13:00:47<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"Breadcrumb Trail Links News Timing of fiscal refresh unknown with some saying it could land post-Christmas as rumours ‘swirl’ it won’t come at all Published Dec 06, 2024 \u00a0\u2022\u00a0 Last…<\/p>\n","protected":false},"author":2,"featured_media":53703,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[31],"tags":[],"class_list":{"0":"post-53702","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy"},"_links":{"self":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/53702","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/comments?post=53702"}],"version-history":[{"count":0,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/53702\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media\/53703"}],"wp:attachment":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media?parent=53702"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/categories?post=53702"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/tags?post=53702"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\u201cWe are looking at our business mix, including profitability and risk-adjusted return on capital, and where we need to invest and divest to improve. Everything is on the table,\u201d Raymond Chun, TD\u2019s chief operating officer who is set to succeed current chief executive Bharat Masrani next year, said on a conference call with analysts to discuss the bank\u2019s fourth-quarter results. \u2014 Naimul Karim, Financial Post<\/em><\/p>\nRead the full story here.<\/p>\n\n<\/p>\n\nToday\u2019s data: <\/strong>The U.S. Labor Department and Statistics Canada release jobs numbers for November. <\/strong><\/li>\nEarnings: <\/strong>BRP Inc., Laurentian Bank of Canada, Canadian Western Bank<\/li>\n<\/ul>\n\n<\/p>\n<\/source><\/source><\/source><\/source><\/source><\/picture><\/figure>\n\n\n<\/strong><\/p>\n\nRecommended from Editorial<\/p>\n<\/p>\n\n <\/picture>\nThe great wealth transfer might not be all it’s cracked up to be<\/span><\/p>\n<\/li>\n <\/picture>\nProfit and investment plunge signals trouble for Corporate Canada<\/span><\/p>\n<\/li>\n<\/ol>\n<\/section>\n<\/section>\n\n\nAdvertisement 6<\/p>\n\n\n\n\nThis advertisement has not loaded yet, but your article continues below.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n\nArticle content<\/p>\n\n<\/p>\nMarkets are betting on a quarter-point cut to the Bank of Canada\u2019s policy rate next week, which means the prime rate should fall to 5.70 per cent for the first time in more than two years. That\u2019s the good news, writes MortgageLogic.news strategist Robert McLister. The bad news is the leading variable rate discounts from prime are shrinking. Find out more about the best rates for mortgages here.<\/p>\n\nHard Earned Truth<\/h3>\nIn an ongoing series about what the next generation needs to know to build wealth, we offer another hard earned truth: Good debt can boost investment wealth, but beware its bad twin.\u00a0<\/span><\/p>\n\nMcLister on mortgages<\/h3>\nWant to learn more about mortgages? Mortgage strategist Robert McLister\u2019s Financial Post column can help navigate the complex sector, from the latest trends to financing opportunities you won\u2019t want to miss. Read them here\u00a0<\/p>\n\nFinancial Post on YouTube<\/h3>\nVisit Financial Post\u2019s YouTube channel for interviews with Canada\u2019s leading experts in economics, housing, the energy sector and more.<\/p>\n\nToday\u2019s Posthaste was written by Gigi Suhanic, with additional reporting from Financial Post staff, The Canadian Press and Bloomberg.<\/em><\/p>\nHave a story idea, pitch, embargoed report, or a suggestion for this newsletter? Email us at\u00a0posthaste@postmedia.com.<\/p>\n\nBookmark our website and support our journalism:<\/strong> Don\u2019t miss the business news you need to know \u2014 add\u00a0financialpost.com\u00a0to your bookmarks and sign up for our newsletters here.<\/em><\/p>\n<\/section>\n\nArticle content<\/p>\n<\/section>\n\nShare this article in your social network<\/p>\n<\/section>\n<\/div>\n\nScotiabank warns on Canada’s budget update<\/a>\n2024-12-06 13:00:47<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"Breadcrumb Trail Links News Timing of fiscal refresh unknown with some saying it could land post-Christmas as rumours ‘swirl’ it won’t come at all Published Dec 06, 2024 \u00a0\u2022\u00a0 Last…<\/p>\n","protected":false},"author":2,"featured_media":53703,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[31],"tags":[],"class_list":{"0":"post-53702","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy"},"_links":{"self":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/53702","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/comments?post=53702"}],"version-history":[{"count":0,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/53702\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media\/53703"}],"wp:attachment":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media?parent=53702"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/categories?post=53702"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/tags?post=53702"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
Read the full story here.<\/p>\n\n
<\/p>\n
<\/p>\n<\/source><\/source><\/source><\/source><\/source><\/picture><\/figure>\n\n\n<\/strong><\/p>\n\nRecommended from Editorial<\/p>\n<\/p>\n\n <\/picture>\nThe great wealth transfer might not be all it’s cracked up to be<\/span><\/p>\n<\/li>\n <\/picture>\nProfit and investment plunge signals trouble for Corporate Canada<\/span><\/p>\n<\/li>\n<\/ol>\n<\/section>\n<\/section>\n\n\nAdvertisement 6<\/p>\n\n\n\n\nThis advertisement has not loaded yet, but your article continues below.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n\nArticle content<\/p>\n\n<\/p>\nMarkets are betting on a quarter-point cut to the Bank of Canada\u2019s policy rate next week, which means the prime rate should fall to 5.70 per cent for the first time in more than two years. That\u2019s the good news, writes MortgageLogic.news strategist Robert McLister. The bad news is the leading variable rate discounts from prime are shrinking. Find out more about the best rates for mortgages here.<\/p>\n\nHard Earned Truth<\/h3>\nIn an ongoing series about what the next generation needs to know to build wealth, we offer another hard earned truth: Good debt can boost investment wealth, but beware its bad twin.\u00a0<\/span><\/p>\n\nMcLister on mortgages<\/h3>\nWant to learn more about mortgages? Mortgage strategist Robert McLister\u2019s Financial Post column can help navigate the complex sector, from the latest trends to financing opportunities you won\u2019t want to miss. Read them here\u00a0<\/p>\n\nFinancial Post on YouTube<\/h3>\nVisit Financial Post\u2019s YouTube channel for interviews with Canada\u2019s leading experts in economics, housing, the energy sector and more.<\/p>\n\nToday\u2019s Posthaste was written by Gigi Suhanic, with additional reporting from Financial Post staff, The Canadian Press and Bloomberg.<\/em><\/p>\nHave a story idea, pitch, embargoed report, or a suggestion for this newsletter? Email us at\u00a0posthaste@postmedia.com.<\/p>\n\nBookmark our website and support our journalism:<\/strong> Don\u2019t miss the business news you need to know \u2014 add\u00a0financialpost.com\u00a0to your bookmarks and sign up for our newsletters here.<\/em><\/p>\n<\/section>\n\nArticle content<\/p>\n<\/section>\n\nShare this article in your social network<\/p>\n<\/section>\n<\/div>\n\nScotiabank warns on Canada’s budget update<\/a>\n2024-12-06 13:00:47<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"Breadcrumb Trail Links News Timing of fiscal refresh unknown with some saying it could land post-Christmas as rumours ‘swirl’ it won’t come at all Published Dec 06, 2024 \u00a0\u2022\u00a0 Last…<\/p>\n","protected":false},"author":2,"featured_media":53703,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[31],"tags":[],"class_list":{"0":"post-53702","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy"},"_links":{"self":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/53702","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/comments?post=53702"}],"version-history":[{"count":0,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/53702\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media\/53703"}],"wp:attachment":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media?parent=53702"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/categories?post=53702"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/tags?post=53702"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
<\/strong><\/p>\n\nRecommended from Editorial<\/p>\n<\/p>\n\n <\/picture>\nThe great wealth transfer might not be all it’s cracked up to be<\/span><\/p>\n<\/li>\n <\/picture>\nProfit and investment plunge signals trouble for Corporate Canada<\/span><\/p>\n<\/li>\n<\/ol>\n<\/section>\n<\/section>\n\n\nAdvertisement 6<\/p>\n\n\n\n\nThis advertisement has not loaded yet, but your article continues below.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n\nArticle content<\/p>\n\n<\/p>\nMarkets are betting on a quarter-point cut to the Bank of Canada\u2019s policy rate next week, which means the prime rate should fall to 5.70 per cent for the first time in more than two years. That\u2019s the good news, writes MortgageLogic.news strategist Robert McLister. The bad news is the leading variable rate discounts from prime are shrinking. Find out more about the best rates for mortgages here.<\/p>\n\nHard Earned Truth<\/h3>\nIn an ongoing series about what the next generation needs to know to build wealth, we offer another hard earned truth: Good debt can boost investment wealth, but beware its bad twin.\u00a0<\/span><\/p>\n\nMcLister on mortgages<\/h3>\nWant to learn more about mortgages? Mortgage strategist Robert McLister\u2019s Financial Post column can help navigate the complex sector, from the latest trends to financing opportunities you won\u2019t want to miss. Read them here\u00a0<\/p>\n\nFinancial Post on YouTube<\/h3>\nVisit Financial Post\u2019s YouTube channel for interviews with Canada\u2019s leading experts in economics, housing, the energy sector and more.<\/p>\n\nToday\u2019s Posthaste was written by Gigi Suhanic, with additional reporting from Financial Post staff, The Canadian Press and Bloomberg.<\/em><\/p>\nHave a story idea, pitch, embargoed report, or a suggestion for this newsletter? Email us at\u00a0posthaste@postmedia.com.<\/p>\n\nBookmark our website and support our journalism:<\/strong> Don\u2019t miss the business news you need to know \u2014 add\u00a0financialpost.com\u00a0to your bookmarks and sign up for our newsletters here.<\/em><\/p>\n<\/section>\n\nArticle content<\/p>\n<\/section>\n\nShare this article in your social network<\/p>\n<\/section>\n<\/div>\n\nScotiabank warns on Canada’s budget update<\/a>\n2024-12-06 13:00:47<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"Breadcrumb Trail Links News Timing of fiscal refresh unknown with some saying it could land post-Christmas as rumours ‘swirl’ it won’t come at all Published Dec 06, 2024 \u00a0\u2022\u00a0 Last…<\/p>\n","protected":false},"author":2,"featured_media":53703,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[31],"tags":[],"class_list":{"0":"post-53702","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy"},"_links":{"self":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/53702","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/comments?post=53702"}],"version-history":[{"count":0,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/53702\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media\/53703"}],"wp:attachment":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media?parent=53702"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/categories?post=53702"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/tags?post=53702"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
Recommended from Editorial<\/p>\n
<\/p>\n\n <\/picture>\nThe great wealth transfer might not be all it’s cracked up to be<\/span><\/p>\n<\/li>\n <\/picture>\nProfit and investment plunge signals trouble for Corporate Canada<\/span><\/p>\n<\/li>\n<\/ol>\n<\/section>\n<\/section>\n\n\nAdvertisement 6<\/p>\n\n\n\n\nThis advertisement has not loaded yet, but your article continues below.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n\nArticle content<\/p>\n\n<\/p>\nMarkets are betting on a quarter-point cut to the Bank of Canada\u2019s policy rate next week, which means the prime rate should fall to 5.70 per cent for the first time in more than two years. That\u2019s the good news, writes MortgageLogic.news strategist Robert McLister. The bad news is the leading variable rate discounts from prime are shrinking. Find out more about the best rates for mortgages here.<\/p>\n\nHard Earned Truth<\/h3>\nIn an ongoing series about what the next generation needs to know to build wealth, we offer another hard earned truth: Good debt can boost investment wealth, but beware its bad twin.\u00a0<\/span><\/p>\n\nMcLister on mortgages<\/h3>\nWant to learn more about mortgages? Mortgage strategist Robert McLister\u2019s Financial Post column can help navigate the complex sector, from the latest trends to financing opportunities you won\u2019t want to miss. Read them here\u00a0<\/p>\n\nFinancial Post on YouTube<\/h3>\nVisit Financial Post\u2019s YouTube channel for interviews with Canada\u2019s leading experts in economics, housing, the energy sector and more.<\/p>\n\nToday\u2019s Posthaste was written by Gigi Suhanic, with additional reporting from Financial Post staff, The Canadian Press and Bloomberg.<\/em><\/p>\nHave a story idea, pitch, embargoed report, or a suggestion for this newsletter? Email us at\u00a0posthaste@postmedia.com.<\/p>\n\nBookmark our website and support our journalism:<\/strong> Don\u2019t miss the business news you need to know \u2014 add\u00a0financialpost.com\u00a0to your bookmarks and sign up for our newsletters here.<\/em><\/p>\n<\/section>\n\nArticle content<\/p>\n<\/section>\n\nShare this article in your social network<\/p>\n<\/section>\n<\/div>\n\nScotiabank warns on Canada’s budget update<\/a>\n2024-12-06 13:00:47<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"Breadcrumb Trail Links News Timing of fiscal refresh unknown with some saying it could land post-Christmas as rumours ‘swirl’ it won’t come at all Published Dec 06, 2024 \u00a0\u2022\u00a0 Last…<\/p>\n","protected":false},"author":2,"featured_media":53703,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[31],"tags":[],"class_list":{"0":"post-53702","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy"},"_links":{"self":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/53702","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/comments?post=53702"}],"version-history":[{"count":0,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/53702\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media\/53703"}],"wp:attachment":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media?parent=53702"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/categories?post=53702"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/tags?post=53702"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
The great wealth transfer might not be all it’s cracked up to be<\/span><\/p>\n<\/li>\n <\/picture>\nProfit and investment plunge signals trouble for Corporate Canada<\/span><\/p>\n<\/li>\n<\/ol>\n<\/section>\n<\/section>\n\n\nAdvertisement 6<\/p>\n\n\n\n\nThis advertisement has not loaded yet, but your article continues below.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n\nArticle content<\/p>\n\n<\/p>\nMarkets are betting on a quarter-point cut to the Bank of Canada\u2019s policy rate next week, which means the prime rate should fall to 5.70 per cent for the first time in more than two years. That\u2019s the good news, writes MortgageLogic.news strategist Robert McLister. The bad news is the leading variable rate discounts from prime are shrinking. Find out more about the best rates for mortgages here.<\/p>\n\nHard Earned Truth<\/h3>\nIn an ongoing series about what the next generation needs to know to build wealth, we offer another hard earned truth: Good debt can boost investment wealth, but beware its bad twin.\u00a0<\/span><\/p>\n\nMcLister on mortgages<\/h3>\nWant to learn more about mortgages? Mortgage strategist Robert McLister\u2019s Financial Post column can help navigate the complex sector, from the latest trends to financing opportunities you won\u2019t want to miss. Read them here\u00a0<\/p>\n\nFinancial Post on YouTube<\/h3>\nVisit Financial Post\u2019s YouTube channel for interviews with Canada\u2019s leading experts in economics, housing, the energy sector and more.<\/p>\n\nToday\u2019s Posthaste was written by Gigi Suhanic, with additional reporting from Financial Post staff, The Canadian Press and Bloomberg.<\/em><\/p>\nHave a story idea, pitch, embargoed report, or a suggestion for this newsletter? Email us at\u00a0posthaste@postmedia.com.<\/p>\n\nBookmark our website and support our journalism:<\/strong> Don\u2019t miss the business news you need to know \u2014 add\u00a0financialpost.com\u00a0to your bookmarks and sign up for our newsletters here.<\/em><\/p>\n<\/section>\n\nArticle content<\/p>\n<\/section>\n\nShare this article in your social network<\/p>\n<\/section>\n<\/div>\n\nScotiabank warns on Canada’s budget update<\/a>\n2024-12-06 13:00:47<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"Breadcrumb Trail Links News Timing of fiscal refresh unknown with some saying it could land post-Christmas as rumours ‘swirl’ it won’t come at all Published Dec 06, 2024 \u00a0\u2022\u00a0 Last…<\/p>\n","protected":false},"author":2,"featured_media":53703,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[31],"tags":[],"class_list":{"0":"post-53702","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy"},"_links":{"self":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/53702","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/comments?post=53702"}],"version-history":[{"count":0,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/53702\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media\/53703"}],"wp:attachment":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media?parent=53702"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/categories?post=53702"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/tags?post=53702"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
Profit and investment plunge signals trouble for Corporate Canada<\/span><\/p>\n<\/li>\n<\/ol>\n<\/section>\n<\/section>\n\n\nAdvertisement 6<\/p>\n\n\n\n\nThis advertisement has not loaded yet, but your article continues below.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n\nArticle content<\/p>\n\n<\/p>\nMarkets are betting on a quarter-point cut to the Bank of Canada\u2019s policy rate next week, which means the prime rate should fall to 5.70 per cent for the first time in more than two years. That\u2019s the good news, writes MortgageLogic.news strategist Robert McLister. The bad news is the leading variable rate discounts from prime are shrinking. Find out more about the best rates for mortgages here.<\/p>\n\nHard Earned Truth<\/h3>\nIn an ongoing series about what the next generation needs to know to build wealth, we offer another hard earned truth: Good debt can boost investment wealth, but beware its bad twin.\u00a0<\/span><\/p>\n\nMcLister on mortgages<\/h3>\nWant to learn more about mortgages? Mortgage strategist Robert McLister\u2019s Financial Post column can help navigate the complex sector, from the latest trends to financing opportunities you won\u2019t want to miss. Read them here\u00a0<\/p>\n\nFinancial Post on YouTube<\/h3>\nVisit Financial Post\u2019s YouTube channel for interviews with Canada\u2019s leading experts in economics, housing, the energy sector and more.<\/p>\n\nToday\u2019s Posthaste was written by Gigi Suhanic, with additional reporting from Financial Post staff, The Canadian Press and Bloomberg.<\/em><\/p>\nHave a story idea, pitch, embargoed report, or a suggestion for this newsletter? Email us at\u00a0posthaste@postmedia.com.<\/p>\n\nBookmark our website and support our journalism:<\/strong> Don\u2019t miss the business news you need to know \u2014 add\u00a0financialpost.com\u00a0to your bookmarks and sign up for our newsletters here.<\/em><\/p>\n<\/section>\n\nArticle content<\/p>\n<\/section>\n\nShare this article in your social network<\/p>\n<\/section>\n<\/div>\n\nScotiabank warns on Canada’s budget update<\/a>\n2024-12-06 13:00:47<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"Breadcrumb Trail Links News Timing of fiscal refresh unknown with some saying it could land post-Christmas as rumours ‘swirl’ it won’t come at all Published Dec 06, 2024 \u00a0\u2022\u00a0 Last…<\/p>\n","protected":false},"author":2,"featured_media":53703,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[31],"tags":[],"class_list":{"0":"post-53702","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy"},"_links":{"self":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/53702","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/comments?post=53702"}],"version-history":[{"count":0,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/53702\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media\/53703"}],"wp:attachment":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media?parent=53702"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/categories?post=53702"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/tags?post=53702"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
<\/section>\n<\/section>\n\n\nAdvertisement 6<\/p>\n\n\n\n\nThis advertisement has not loaded yet, but your article continues below.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n\nArticle content<\/p>\n\n<\/p>\nMarkets are betting on a quarter-point cut to the Bank of Canada\u2019s policy rate next week, which means the prime rate should fall to 5.70 per cent for the first time in more than two years. That\u2019s the good news, writes MortgageLogic.news strategist Robert McLister. The bad news is the leading variable rate discounts from prime are shrinking. Find out more about the best rates for mortgages here.<\/p>\n\nHard Earned Truth<\/h3>\nIn an ongoing series about what the next generation needs to know to build wealth, we offer another hard earned truth: Good debt can boost investment wealth, but beware its bad twin.\u00a0<\/span><\/p>\n\nMcLister on mortgages<\/h3>\nWant to learn more about mortgages? Mortgage strategist Robert McLister\u2019s Financial Post column can help navigate the complex sector, from the latest trends to financing opportunities you won\u2019t want to miss. Read them here\u00a0<\/p>\n\nFinancial Post on YouTube<\/h3>\nVisit Financial Post\u2019s YouTube channel for interviews with Canada\u2019s leading experts in economics, housing, the energy sector and more.<\/p>\n\nToday\u2019s Posthaste was written by Gigi Suhanic, with additional reporting from Financial Post staff, The Canadian Press and Bloomberg.<\/em><\/p>\nHave a story idea, pitch, embargoed report, or a suggestion for this newsletter? Email us at\u00a0posthaste@postmedia.com.<\/p>\n\nBookmark our website and support our journalism:<\/strong> Don\u2019t miss the business news you need to know \u2014 add\u00a0financialpost.com\u00a0to your bookmarks and sign up for our newsletters here.<\/em><\/p>\n<\/section>\n\nArticle content<\/p>\n<\/section>\n\nShare this article in your social network<\/p>\n<\/section>\n<\/div>\n\nScotiabank warns on Canada’s budget update<\/a>\n2024-12-06 13:00:47<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"Breadcrumb Trail Links News Timing of fiscal refresh unknown with some saying it could land post-Christmas as rumours ‘swirl’ it won’t come at all Published Dec 06, 2024 \u00a0\u2022\u00a0 Last…<\/p>\n","protected":false},"author":2,"featured_media":53703,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[31],"tags":[],"class_list":{"0":"post-53702","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy"},"_links":{"self":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/53702","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/comments?post=53702"}],"version-history":[{"count":0,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/53702\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media\/53703"}],"wp:attachment":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media?parent=53702"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/categories?post=53702"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/tags?post=53702"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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This advertisement has not loaded yet, but your article continues below.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n\nArticle content<\/p>\n\n<\/p>\nMarkets are betting on a quarter-point cut to the Bank of Canada\u2019s policy rate next week, which means the prime rate should fall to 5.70 per cent for the first time in more than two years. That\u2019s the good news, writes MortgageLogic.news strategist Robert McLister. The bad news is the leading variable rate discounts from prime are shrinking. Find out more about the best rates for mortgages here.<\/p>\n\nHard Earned Truth<\/h3>\nIn an ongoing series about what the next generation needs to know to build wealth, we offer another hard earned truth: Good debt can boost investment wealth, but beware its bad twin.\u00a0<\/span><\/p>\n\nMcLister on mortgages<\/h3>\nWant to learn more about mortgages? Mortgage strategist Robert McLister\u2019s Financial Post column can help navigate the complex sector, from the latest trends to financing opportunities you won\u2019t want to miss. Read them here\u00a0<\/p>\n\nFinancial Post on YouTube<\/h3>\nVisit Financial Post\u2019s YouTube channel for interviews with Canada\u2019s leading experts in economics, housing, the energy sector and more.<\/p>\n\nToday\u2019s Posthaste was written by Gigi Suhanic, with additional reporting from Financial Post staff, The Canadian Press and Bloomberg.<\/em><\/p>\nHave a story idea, pitch, embargoed report, or a suggestion for this newsletter? Email us at\u00a0posthaste@postmedia.com.<\/p>\n\nBookmark our website and support our journalism:<\/strong> Don\u2019t miss the business news you need to know \u2014 add\u00a0financialpost.com\u00a0to your bookmarks and sign up for our newsletters here.<\/em><\/p>\n<\/section>\n\nArticle content<\/p>\n<\/section>\n\nShare this article in your social network<\/p>\n<\/section>\n<\/div>\n\nScotiabank warns on Canada’s budget update<\/a>\n2024-12-06 13:00:47<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"Breadcrumb Trail Links News Timing of fiscal refresh unknown with some saying it could land post-Christmas as rumours ‘swirl’ it won’t come at all Published Dec 06, 2024 \u00a0\u2022\u00a0 Last…<\/p>\n","protected":false},"author":2,"featured_media":53703,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[31],"tags":[],"class_list":{"0":"post-53702","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy"},"_links":{"self":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/53702","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/comments?post=53702"}],"version-history":[{"count":0,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/53702\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media\/53703"}],"wp:attachment":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media?parent=53702"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/categories?post=53702"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/tags?post=53702"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
Article content<\/p>\n\n
Markets are betting on a quarter-point cut to the Bank of Canada\u2019s policy rate next week, which means the prime rate should fall to 5.70 per cent for the first time in more than two years. That\u2019s the good news, writes MortgageLogic.news strategist Robert McLister. The bad news is the leading variable rate discounts from prime are shrinking. Find out more about the best rates for mortgages here.<\/p>\n\n
In an ongoing series about what the next generation needs to know to build wealth, we offer another hard earned truth: Good debt can boost investment wealth, but beware its bad twin.\u00a0<\/span><\/p>\n\nMcLister on mortgages<\/h3>\nWant to learn more about mortgages? Mortgage strategist Robert McLister\u2019s Financial Post column can help navigate the complex sector, from the latest trends to financing opportunities you won\u2019t want to miss. Read them here\u00a0<\/p>\n\nFinancial Post on YouTube<\/h3>\nVisit Financial Post\u2019s YouTube channel for interviews with Canada\u2019s leading experts in economics, housing, the energy sector and more.<\/p>\n\nToday\u2019s Posthaste was written by Gigi Suhanic, with additional reporting from Financial Post staff, The Canadian Press and Bloomberg.<\/em><\/p>\nHave a story idea, pitch, embargoed report, or a suggestion for this newsletter? Email us at\u00a0posthaste@postmedia.com.<\/p>\n\nBookmark our website and support our journalism:<\/strong> Don\u2019t miss the business news you need to know \u2014 add\u00a0financialpost.com\u00a0to your bookmarks and sign up for our newsletters here.<\/em><\/p>\n<\/section>\n\nArticle content<\/p>\n<\/section>\n\nShare this article in your social network<\/p>\n<\/section>\n<\/div>\n\nScotiabank warns on Canada’s budget update<\/a>\n2024-12-06 13:00:47<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"Breadcrumb Trail Links News Timing of fiscal refresh unknown with some saying it could land post-Christmas as rumours ‘swirl’ it won’t come at all Published Dec 06, 2024 \u00a0\u2022\u00a0 Last…<\/p>\n","protected":false},"author":2,"featured_media":53703,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[31],"tags":[],"class_list":{"0":"post-53702","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy"},"_links":{"self":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/53702","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/comments?post=53702"}],"version-history":[{"count":0,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/53702\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media\/53703"}],"wp:attachment":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media?parent=53702"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/categories?post=53702"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/tags?post=53702"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
Want to learn more about mortgages? Mortgage strategist Robert McLister\u2019s Financial Post column can help navigate the complex sector, from the latest trends to financing opportunities you won\u2019t want to miss. Read them here\u00a0<\/p>\n\n
Visit Financial Post\u2019s YouTube channel for interviews with Canada\u2019s leading experts in economics, housing, the energy sector and more.<\/p>\n\n
Today\u2019s Posthaste was written by Gigi Suhanic, with additional reporting from Financial Post staff, The Canadian Press and Bloomberg.<\/em><\/p>\nHave a story idea, pitch, embargoed report, or a suggestion for this newsletter? Email us at\u00a0posthaste@postmedia.com.<\/p>\n\nBookmark our website and support our journalism:<\/strong> Don\u2019t miss the business news you need to know \u2014 add\u00a0financialpost.com\u00a0to your bookmarks and sign up for our newsletters here.<\/em><\/p>\n<\/section>\n\nArticle content<\/p>\n<\/section>\n\nShare this article in your social network<\/p>\n<\/section>\n<\/div>\n\nScotiabank warns on Canada’s budget update<\/a>\n2024-12-06 13:00:47<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"Breadcrumb Trail Links News Timing of fiscal refresh unknown with some saying it could land post-Christmas as rumours ‘swirl’ it won’t come at all Published Dec 06, 2024 \u00a0\u2022\u00a0 Last…<\/p>\n","protected":false},"author":2,"featured_media":53703,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[31],"tags":[],"class_list":{"0":"post-53702","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy"},"_links":{"self":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/53702","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/comments?post=53702"}],"version-history":[{"count":0,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/53702\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media\/53703"}],"wp:attachment":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media?parent=53702"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/categories?post=53702"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/tags?post=53702"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
Have a story idea, pitch, embargoed report, or a suggestion for this newsletter? Email us at\u00a0posthaste@postmedia.com.<\/p>\n\n
Bookmark our website and support our journalism:<\/strong> Don\u2019t miss the business news you need to know \u2014 add\u00a0financialpost.com\u00a0to your bookmarks and sign up for our newsletters here.<\/em><\/p>\n<\/section>\n\nArticle content<\/p>\n<\/section>\n\nShare this article in your social network<\/p>\n<\/section>\n<\/div>\n\nScotiabank warns on Canada’s budget update<\/a>\n2024-12-06 13:00:47<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"Breadcrumb Trail Links News Timing of fiscal refresh unknown with some saying it could land post-Christmas as rumours ‘swirl’ it won’t come at all Published Dec 06, 2024 \u00a0\u2022\u00a0 Last…<\/p>\n","protected":false},"author":2,"featured_media":53703,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[31],"tags":[],"class_list":{"0":"post-53702","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy"},"_links":{"self":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/53702","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/comments?post=53702"}],"version-history":[{"count":0,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/53702\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media\/53703"}],"wp:attachment":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media?parent=53702"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/categories?post=53702"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/tags?post=53702"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
Article content<\/p>\n<\/section>\n\nShare this article in your social network<\/p>\n<\/section>\n<\/div>\n\nScotiabank warns on Canada’s budget update<\/a>\n2024-12-06 13:00:47<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"Breadcrumb Trail Links News Timing of fiscal refresh unknown with some saying it could land post-Christmas as rumours ‘swirl’ it won’t come at all Published Dec 06, 2024 \u00a0\u2022\u00a0 Last…<\/p>\n","protected":false},"author":2,"featured_media":53703,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[31],"tags":[],"class_list":{"0":"post-53702","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy"},"_links":{"self":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/53702","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/comments?post=53702"}],"version-history":[{"count":0,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/53702\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media\/53703"}],"wp:attachment":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media?parent=53702"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/categories?post=53702"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/tags?post=53702"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
Share this article in your social network<\/p>\n<\/section>\n<\/div>\n\nScotiabank warns on Canada’s budget update<\/a>\n2024-12-06 13:00:47<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"
Breadcrumb Trail Links News Timing of fiscal refresh unknown with some saying it could land post-Christmas as rumours ‘swirl’ it won’t come at all Published Dec 06, 2024 \u00a0\u2022\u00a0 Last…<\/p>\n","protected":false},"author":2,"featured_media":53703,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[31],"tags":[],"class_list":{"0":"post-53702","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy"},"_links":{"self":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/53702","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/comments?post=53702"}],"version-history":[{"count":0,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/53702\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media\/53703"}],"wp:attachment":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media?parent=53702"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/categories?post=53702"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/tags?post=53702"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}