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Canadian economic growth lags expectations in Q2; July estimate points to contraction
August 31, 2022 by The Canadian PressOTTAWA – Economists expect the Bank of Canada to move forward with another aggressive interest rate hike next week after the release of data showing the economy remained in relatively good shape during the second quarter of the year. The…
Higher gas, auto sales boosted retail spending in June, Statistics Canada says
August 19, 2022 by The Canadian PressOTTAWA – Canadian retail sales increased 1.1 per cent to $63.1 billion in June, boosted by higher sales at gasoline stations and motor vehicle and parts dealers, Statistics Canada said Friday. However, the agency said its preliminary estimate for July…
Why Deloitte doesn’t anticipate a soft market ‘for the next few years’
August 15, 2022 by David GambrillCanada’s commercial P&C insurance market may not soften “for the next few years,” said a report on the industry published by Deloitte. “While there may be products where the market becomes more competitive on new business with good claims experience,…
How China-Taiwan tensions are affecting Canada’s supply chain
August 15, 2022 by Jason ContantAlthough there has been some easing in supply chain issues around the world, other disruptions are coming into play, a marine expert from Allianz Global Corporate & Specialty (AGCS) told Canadian Underwriter in an interview. One major disruption is escalating…
Former Supreme Court judge to head Hockey Canada review
August 8, 2022 by The Canadian PressFormer Supreme Court of Canada judge Thomas Cromwell will lead an independent review of Hockey Canada’s governance amid calls for a change of leadership of the governing body for its handling of recent allegations of sexual assault against players. Hockey…
Canada’s inflation rate climbed to 8.1% in June as gas prices soared
July 20, 2022 by The Canadian PressOTTAWA – Canada’s annual inflation rate rose to 8.1 per cent in June, boosted by soaring gas prices, which rose more than 50 per cent compared with a year ago, Statistics Canada said Wednesday. The June inflation rate was up…
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…