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Economists expect Bank of Canada to hike key interest rate by 0.75%
July 12, 2022 by Nojoud Al Mallees - THE CANADIAN PRESSOTTAWA – Economists are predicting the Bank of Canada will hike its key interest rate by three-quarters of a percentage point on Wednesday as inflation rages on globally. In Canada, inflation hit a 39-year-high of 7.7 per cent in May…
Canada headed towards ‘moderate’ recession in 2023: RBC economists
July 7, 2022 by Adena Ali - THE CANADIAN PRESSTORONTO – Canada is headed towards a recession in 2023, but it will be short-lived and not as severe as prior downturns, according to a new report from RBC. RBC economists said Thursday that soaring food and energy prices, rising…
Why career conversations and experiments are key to employee retention
July 6, 2022 by Jason ContantFocusing career conversations on progression, not promotion, may be one way to convince your top producers to stick around. Spotting employees’ strengths and then creating connections for them within the organization to have ‘curious career conversations’ is one solution to…
Bank of Canada surveys suggest business and consumer inflation expectations up
July 4, 2022 by Craig Wong - THE CANADIAN PRESSOTTAWA – A pair of new reports from the Bank of Canada point to rising inflation expectations by Canadian businesses and consumers. In its business outlook survey released Monday, the central bank said businesses’ expectations for near-term inflation have increased,…
Will rocketing consumer prices spark social inflation?
June 24, 2022 by Philip PoradoWhile consumers are paying close attention to inflation’s impact on their wallets, insurers should be keeping an eye on social inflation – and recognize the two are often linked. “There’s quite a distinction between the impact of what I would…
Bank of Canada says economy can handle higher interest rates
June 10, 2022 by Ian Bickis - THE CANADIAN PRESSHigh household debt and elevated housing prices have become bigger vulnerabilities in the past year, but the economy can still handle the rising interest rates needed to tame inflation, Bank of Canada governor Tiff Macklem said Thursday. “We think the…
Four-day work week: Will it work for your P&C office?
May 30, 2022 by Jason ContantIf you’re considering implementing a four-day work week at your P&C workplace, it’s important to realize the potential drawbacks of this approach, as laid out in a blog from Harvard Business Review. “Before trying a four-day workweek, employers need to…
Inflation rate up slightly in April to 6.8 per cent: Statistics Canada
May 18, 2022 by The Canadian PressOTTAWA – The cost of nearly everything at the grocery store continued to climb higher to push the annual inflation rate up in April. Statistics Canada said Wednesday that its consumer price index for April rose 6.8 per cent compared…
4 insurance industry trends to watch
May 11, 2022 by Tara KellyIn this third calendar year marked by the pandemic, emerging trends in data collection and security require insurance policy offerings to keep pace with client needs. We can count on innovation and technology to keep reshaping the insurance sector in…
Key interest rate could soon go up another half percentage point, central bank says
April 25, 2022 by The Canadian PressOTTAWA – The governor of the Bank of Canada is signalling Canada’s key interest rate could go up another half percentage point in June to help wrestle inflation under control. Tiff Macklem is appearing at the House of Commons standing…
How ESG offers a competitive advantage
April 22, 2022 by Alyssa DiSabatinoPrioritizing environmental, social, and governance (ESG) issues is part of a company’s long-term competitive success, and panellists in a recent webinar shared examples of why. For example, companies that focus on ESG — and social responsibility in particular —…
Bank of Canada governor says he won’t ‘rule anything out’ on rates
April 22, 2022 by Adena Ali - THE CANADIAN PRESSTORONTO – On a day when the Federal Reserve spooked markets with its tough talk on interest rates, Bank of Canada governor Tiff Macklem says he won’t “rule anything out” when it comes to the central bank’s own interest rate…