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Bank of Canada Holds Rates Steady, Signals Patience on Cuts, and New Rules Simplify Continuing Professional Education for Expats.
News for residents of the “11th province”: Canadians abroad.
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Bank of Canada Holds Rates Steady, Signals Patience on Cuts
The Bank of Canada held its key interest rate at 5% this week, indicating that while a cut is likely coming this year, it's not in a rush. Governor Tiff Macklem said the bank needs to see more evidence of sustained downward momentum in inflation before acting. For expats managing finances back home, it means borrowing costs and savings returns are likely to remain stable for at least a few more months.
Read more: Financial Post
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New Rules Simplify Continuing Professional Education for Expats
Canadian professional bodies, including those for engineers, accountants, and lawyers, have announced new streamlined processes for members living abroad to meet their continuing professional education (CPE) requirements. The new rules allow for more flexible online learning options and recognition of foreign-accredited courses, making it easier for expats to maintain their professional standing in Canada while working overseas.
Read more: CBC News