THE CANADIAN PRESS @
Five things to watch for in Canadian business over the next week:
Federal relief measures take effect
Monday marks the start of the first full week when the Canada Emergency Business Account will be available to small businesses and not-for-profit organizations. The federal government’s program, which offers applicants up to $ 40,000 in interest-free loans to help counter the economic downturn associated with COVID-19, is currently available from the 5 major banks.
Another rate cut?
The Bank of Canada is set to release its latest interest rate decision and its monetary policy report on Wednesday. The Central Bank of Canada made two unexpected rate cuts in March in response to the economic slowdown caused by the COVID-19 pandemic, lowering its key rate target to 0.25% after the start of the month to 1.75% .
Home sales in March
The Canadian Real Estate Association is expected to release house sales in March on Wednesday. Recent figures from Vancouver and Toronto showed strong sales activity in the first half of the month, followed by a sharp drop in activity as the effects of COVID-19 cooled the market.
Statistics Canada is expected to release its monthly manufacturing survey for February on Thursday. The previous StatCan survey for January showed that manufacturers’ sales fell 0.2% to $ 56.1 billion, the fifth consecutive monthly decline.
Possible update of CERB
Unemployed Canadian workers who currently do not qualify for the Canadian Emergency Response Benefit will be watching for updates to the $ 24 billion program. A recent analysis by the Canadian Center for Policy Alternatives has estimated that one-third of the unemployed in Canada, including contract workers and people in the performing arts, will not receive employment insurance or CERB assistance in its current form. .
This report from The Canadian Press was first published on April 12, 2020.