Weekly Digest – 1 June 2022

Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward.

BOC Governor’s credibility attacked

Bank of Canada Governor Tiff Macklem is being targeted by prominent politicians from the opposition Conservative Party who are casting doubt on his commitment to the fight against rising inflation

This year’s canola crop is the most expensive ever.

Sky-high fuel and fertilizer costs have contributed to the most expensive canola crop ever in Alberta.

Rebates coming for Canadian merchants

A recent settlement with Visa and MasterCard means businesses will soon be able to pass the surcharge of using their credit card on to the consumer.

Further rise in inflation rates likely

The Bank of Canada is expected to raise interest rates further this week as inflation persists.

Young adults regularly worry about covering living expenses

A global survey shows that a large portion of Gen Z and Millennials live paycheque-to-paycheque, and that cost of living is top of mind.

3 Canadian cities rank in top 20 for work-life balance

Over 130 data points pertaining to work intensity, society and city livability were measured, with Oslo taking the top spot overall.

Young people turn to TikTok for financial advice

One third of survey respondents said they turn to TikTok to help them make financial decisions, saying that despite the risks, the approachability of the subject on the social media platform makes it worth it.

Natural gas prices could climb even higher

Weather, worker shortages, and the war in Ukraine could push natural gas levels to a fresh high this summer. They reached a 14-year high this week.

Indigenous and visible minority customers treated unequally to others at Canadian banks

A federal consumer watchdog says a mystery shopper review found that visible minority and Indigenous customers at Canada’s big 5 banks are more likely to be offered inappropriate products and services.

Cash is king, but not when dealing with the taxman

Burden of proof often falls to the taxpayer when cash earnings are involved. Cash income can be difficult to prove, and can lead to headaches when trying to qualify for government programs or deductions.

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