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economy

News Insurance

Small businesses warn of layoffs, closures if pandemic aid isn’t extended

October 21, 2021 The Canadian Press

OTTAWA – Business groups in Canada are warning that ending federal pandemic-relief programs too soon could send shock waves through the economy. Cutting off wage and rent subsidies as planned on Saturday will force many businesses to reduce their hours,

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Businesses see higher inflation, wages and job changes, Bank of Canada reports

October 18, 2021 Jordan Press - THE CANADIAN PRESS

OTTAWA – Consumers and businesses expect increases in the cost of living to stay hot over the next year, the Bank of Canada says as part of surveys results that also show people more willing to search for new jobs,

News Insurance

North American markets continue to rise despite mounting COVID-19 case numbers

August 4, 2021 Salmaan Farooqui - THE CANADIAN PRESS

TORONTO – North American markets moved up on the first day of August trading in Canada, even as concerns mount around rising COVID-19 case counts in the U.S. Scott Guitard, senior vice-president and portfolio manager at Fiduciary Trust Canada, said

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Canadian home sales up 76% year over year, set new March record: CREA

April 15, 2021 Tara Deschamps, The Canadian Press

A trickle of supply started returning to the country’s real estate sector in March, but it did little to cool off heated markets as monthly home sales hit an all-time record, the Canadian Real Estate Association said Thursday. Sales across

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Small business struggling amid COVID-19 pandemic looks for aid in Liberals’ budget

April 13, 2021 Jordan Press, The Canadian Press

OTTAWA — A group representing thousands of the country’s small businesses says many hope the Trudeau Liberals heed their concerns and reshape aid in the upcoming federal budget to help them survive the COVID-19 pandemic. The Canadian Federation of Independent

News Insurance

How your business clients feel about Canada’s chances for economic recovery

March 25, 2021 by Adam Malik

The size of your commercial client appears to influence their optimism about the future as Canada’s vaccination program starts to roll out, a trio of recent reports suggests. Bigger commercial clients are feeling a sense of optimism when looking ahead,

News Insurance

Bank of Canada keeps key interest rate target on hold despite more upbeat forecast

March 11, 2021 Jordan Press - THE CANADIAN PRESS

OTTAWA – The Bank of Canada kept its key interest rate on hold Wednesday even as it said it now expects the economy will grow over the first three months of this year, an about-face from its previous forecast just

News Insurance

RBC CEO sees inflationary pressure building as economy bounces back

March 9, 2021 Anita Balakrishnan - THE CANADIAN PRESS

TORONTO – Royal Bank of Canada chief executive David McKay said Tuesday he foresees inflationary pressure building in the economy as it rebounds from the COVID-19 pandemic. With rising input prices for labour and commodities, it could create a challenge

News Insurance

Canada’s hardest-hit commercial lines — and a reason for optimism

February 18, 2021 by David Gambrill

Commercial lines market hardening in Canada — and globally — should continue through the early half of 2021, with some possible easing of rate increases during the second half of the year once vaccine rollout is widespread, an Aon report

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Bank of Canada keeps key rate at 0.25 per cent, warns of economic decline in 2021

January 20, 2021 Jordan Press - THE CANADIAN PRESS

OTTAWA – The Bank of Canada says the national economy will go in reverse for the first quarter of 2021, hammering the hardest-hit workers again on the path to a recovery that rests on the rollout of vaccines. Workers in

News Insurance

Investors look with optimism to ‘year of the vaccine’, expect major growth in 2021

December 23, 2020 Ross Marowits - THE CANADIAN PRESS

TORONTO – On Jan. 1, investors celebrating Bay Street’s best returns since the global financial crisis couldn’t have known what kind of year they were about to face. The year on stock exchanges was marked by swift and frequent changes

News Insurance

What’s keeping insurance CEOs up at night

December 15, 2020 by Adam Malik

About 10 months into the global COVID-19 pandemic, insurance leaders are less confident about growing their business and are increasingly concerned about the cratering economy, an insurance industry observer told a recent virtual conference. Even so, they’re showing more confidence