07:42 AM EDT, 03/19/2025 (MT Newswires) -- Canada's Q4 population estimates are released at 8:30 a.m. ET Wednesday, noted Bank of Montreal (BMO).

Immigration curbs have already slowed its growth to a 2.3% year-over-year rate from an earlier peak of 3.2%, said the bank. While the government aims to modestly shrink the population this year and next, BMO suspects a sharp slowdown to below 1% is more attainable given potential increased asylum claims and the lengthy backlog for processing such.

Either way, this will only add to downward pressure in the housing and rental markets in some regions, pointed out the bank.

Statistics Canada will also release work on "interprovincial trade flows and frictions," a timely study given the concerted effort by provincial governments to address the issue, added BMO.

Saskatchewan tables its budget later Wednesday, according to the bank. Provincial premier Scott Moe has hinted at increased funding for education and lower property taxes. Of interest is whether the government raises the projected budget deficit due to potential trade war damage, including planned tariffs by China on Canadian imports of canola oil and meal.