Keyword
economy
In the poly-crisis era, what are the odds of stagflation?
April 17, 2024 by David GambrillOften described by Canadian property and casualty risk professionals as ‘uncertain,’ ‘volatile,’ and even just plain ‘weird,’ the post-pandemic era now has a name — we’re in a poly-crisis. “Here’s a short definition of what poly-crisis means — it comes…
Bank of Canada holds key interest rate, signals shift toward rate cut talks
January 25, 2024 Nojoud Al Mallees – The Canadian PressThe Bank of Canada is turning its attention to when it may be able to start cutting interest rates, governor Tiff Macklem said Wednesday as he announced the central bank’s decision to hold its key rate at five per cent.…
Bank of Canada holds its key interest rate steady at 5% in final decision of 2023
December 7, 2023 The Canadian PressOTTAWA – The Bank of Canada continued to hold its key interest rate steady at five per cent today, encouraged by evidence that higher rates are helping bring inflation down. In a news release, the central bank says higher borrowing…
Fighting inflation half-heartedly would be ‘huge mistake,’ Bank of Canada warns
November 22, 2023 Nojoud Al Mallees - THE CANADIAN PRESSOTTAWA – Bank of Canada Governor Tiff Macklem warns fighting inflation half-heartedly and living with its consequences would be a huge mistake. The governor acknowledged during a speech Wednesday that interest rates may already be high enough to bring inflation…
Weakening economy convinces BoC to hold key rate, but door to more hikes stays open
September 6, 2023 Nojoud Al Mallees - THE CANADIAN PRESSOTTAWA – The Bank of Canada held its key interest rate steady at five per cent on Wednesday, deciding against another rate hike as the economy begins to falter. “With recent evidence that excess demand in the economy is easing,…
Will the Bank of Canada raise interest rates again?
May 31, 2023 Nojoud Al Mallees - THE CANADIAN PRESSOTTAWA – The Canadian economy grew faster than expected in the first three months of the year and likely expanded again in April, fuelling speculation that the Bank of Canada will raise interest rates again. Statistics Canada reported Wednesday real…
Tips for advising commercial clients during economic downturns
May 9, 2023 Alyssa Di SabatinoInflation and the looming threat of an economic downturn would seem like a one-two punch that would make commercial clients think about ways to skimp on insurance. But it isn’t necessarily so. “Insurance is not a discretionary spend for most companies,”…
Vancouver port traffic dips in 2022, hinting at economic slowdown to come
May 3, 2023 Christopher Reynolds - THE CANADIAN PRESSMONTREAL – Cargo volumes at Canada’s largest port fell by three per cent last year as the global economy began to show signs of a slowdown. Though grain and fertilizer exports surged in the second half of 2022, the gains…
Auto insurers take note: Why this economic downturn is so unusual
April 25, 2023 by Jason ContantCanada’s sluggish economy might be headed for a ‘shallow downturn,’ but it’s unique in the sense there’s also pent-up demand for motor vehicles, said BMO Financial Group chief economist Douglas Porter during an industry event last week. “Anybody here who…
Is Canada still heading toward a recession?
April 21, 2023 by Jason ContantCanada will likely not experience a recession in the traditional sense but rather a ‘shallow downturn,’ BMO Financial Group’s chief economist Douglas Porter said at an industry event Thursday. “I’m reluctant to call what we’re looking at in Canada a…
Brokers braced for tough conversations when the economy slips
April 14, 2023 Alyssa Di SabatinoMost economists are still calling for some degree of economic downturn later in 2023. That makes the road ahead uncertain for commercial companies, and many can be expected to seek ways to tighten their belts. For some, cost-cutting measures may…
Canada heading into ‘mild recession,’ Deloitte report suggests
March 28, 2023 The Canadian PressOTTAWA – New research says Canada is heading into a mild recession as elevated borrowing costs, a downturn in the U.S. and persistent inflation dial up the country’s economic uncertainty. Deloitte Canada’s latest economic outlook, released ahead of the federal…