News of the day: Bank of Canada expectations, renting-out pays off, income tax rates, immigration system reset, Barton joins Invest in Canada and more

Skip to Content News Archives Economy Energy Oil & Gas Renewables Electric Vehicles Mining Commodities Agriculture Real Estate Mortgages Mortgage Rates Finance Banking Insurance Fintech Cryptocurrency Work Wealth Smart Money Wealth Management Investor Personal Finance Family Finance Retirement Taxes High Net Worth FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials More Innovation Information Technology FP500 Podcasts Small Business Lives Told Tails Told Shopping Financial Post Store Obituaries Place a Notice Advertising Advertising With Us Advertising Solutions Postmedia Ad Manager Sponsorship Requests Classifieds Place a Classifieds ad Working Profile Settings My Subscriptions My Offers Newsletters Customer Service FAQ News Economy Energy Mining Real Estate Finance Work Wealth Investor FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials This advertisement has not loaded yet, but your article continues below.HomeUncategorizedNews of the day: Bank of Canada expectations, renting-out pays off, income tax rates, immigration system reset, Barton joins Invest in Canada and moreCatch up on the stories we’re following todayThe Bank of Canada building in Ottawa. Photo by HYUNGCHEOL PARK/Postmedia filesIt’s Tuesday, Sept. 1. Here are the top stories we’re following today.THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLYSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.SUBSCRIBE TO UNLOCK MORE ARTICLESSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.REGISTER / SIGN IN TO UNLOCK MORE ARTICLESCreate an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountCanadian economists largely expect the Bank of Canada to keep its overnight rate at 2.25 per cent for the rest of the year, but what policymakers might do in 2027 is less clear as the trade war muddies the country’s economic outlook. Alexis Levenson knew she wouldn’t be able to afford a house on her own so she bought a Toronto property with an unfinished basement she could convert into a legal rental unit to help pay off her mortgage. Photo by Handout/Alexis LevensonGet the latest headlines, breaking news and columns.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againAlexis Levenson is part of a growing pool of homeowners using their extra space to pay off their mortgage. More than one-third of Canadians said they need to rent out part of their home to afford ownership, up from 25 per cent in 2021, according to a June report from Mortgage Professionals Canada. In the U.S., the top federal bracket of 37 per cent doesn’t start until US$640,600 for a single filer and US$768,700 for a married couple filing jointly, much higher than in Canada. Photo by Nora Carol Photography/Getty ImagesStrong is a tax system that competes. Ours doesn’t, and pretending otherwise is the actual rupture. That’s the fix within our control, writes Kim Moody. The report said the Express Entry system, one of the more popular ways of immigrating to Canada, is not working as intended due to changes introduced in 2022. Photo by dennizn - stock.adobe.comCanada’s immigration strategy has lost its edge, so rebuilding trust in the system is needed as Ottawa looks to reduce its reliance on the United States and pursue new economic goals, according to a new Royal Bank of Canada report. Dominic Barton will hold the position of chairman of Invest in Canada on a part-time basis for a three-year term. Photo by Qilai Shen/Bloomberg via Getty ImagesThe former Canadian ambassador to China Dominic Barton has been appointed as chair of Invest in Canada’s board of directors following the resignation of the federal agency’s chief executive.This advertisement has not loaded yet.Notice for the Postmedia NetworkThis website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy.