In this edition:
- Bank of Canada cuts interest rate to 2.25%, but signals this may be the end of easing
- Niagara District Airport unveils new 20-year Master Plan
- Ontario police uncover more counterfeit Canadian cash. Here’s what to do if you suspect your bill is fake
- Food services and drinking places subsector sees sixth consecutive monthly sales increase
- Saab considers Canada as site for Gripen jet assembly to meet demand from Ukraine
- Focus on Technology
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Bank of Canada Governor Tiff Macklem | Photo credit: Bank of Canada / CC BY 2.0
Bank of Canada cuts interest rate to 2.25%, but signals this may be the end of easing
The Bank of Canada cut its interest rate by 25 basis points to 2.25 per cent on Wednesday, but signalled that it may end its easing cycle there if the economy operates in line with its latest forecast.
“This was our second straight cut, and reflects ongoing weakness in the economy and contained inflationary pressures,” said Bank of Canada governor Tiff Macklem, according to prepared remarks.
Picture credit: Niagara District Airport
Niagara District Airport unveils new 20-year Master Plan
Today, Niagara District Airport (the “Airport”) released its 2025 – 2045 Master Plan, a community-informed roadmap that presents a bold, sustainable vision for the next 20 years.
The Master Plan outlines the path forward in transforming the Airport from a general aviation hub into a modern regional gateway, bringing commercial passenger flights to the heart of the region, and unlocking significant growth in Niagara’s tourism industry.
Photo credit: journey2008 / Adobe Stock
Ontario police uncover more counterfeit Canadian cash. Here’s what to do if you suspect your bill is fake
Anyone who believes they may have unknowingly acquired counterfeit banknotes is encouraged to contact their financial institution or consult the Bank of Canada’s counterfeit prevention information.
If you suspect you’re being offered a fake note during a transaction, politely refuse it and explain that you suspect it may be counterfeit.
Photo credit: weyo / Adobe Stock
Food services and drinking places subsector sees sixth consecutive monthly sales increase
Total sales in the food services and drinking places subsector increased 0.9% in August to $8.5 billion, marking the sixth consecutive monthly increase.
Non-seasonally adjusted prices for food purchased from restaurants were up 3.3% in August when compared with August 2024. Unadjusted prices for alcoholic beverages served in licensed establishments also increased 3.3% over the same period.
Picture credit: Ryan / Adobe Stock
Saab considers Canada as site for Gripen jet assembly to meet demand from Ukraine
Swedish aerospace giant Saab is considering Canada as a place to assemble Gripen fighter jets as it moves to quickly ramp up production to meet the demand from Ukraine.
Saab’s CEO Micael Johansson said in recent interviews with financial news publications that Kyiv’s interest in purchasing more than 100 Gripen fighter jets would double the defence company’s production needs.
Focus on Technology
Cybersecurity challenges peak during shopping seasons
Mario Toneguzzi / Retail Insider
Through the Daily Updates, the GNCC aims to deliver important business news in a timely manner. We disseminate all news and information we feel will be important to businesses. Inclusion in the Daily Update is not an endorsement by the GNCC.
