OTTAWA – The Bank of Canada hiked its key interest rate by half of a percentage point Wednesday and said rates will need to rise further to clamp down on decades-high inflation. Since March, the central bank has raised its…
OTTAWA – Canada’s latest reading on inflation came in hotter than expected as the cost of groceries continued to climb at the fastest pace in decades, setting the stage for another sizeable interest rate hike next week. In its latest…
OTTAWA – Inflation in Canada is cooling faster than expected, but economists don’t expect the Bank of Canada to back down from its fight just yet. The annual inflation rate slowed to 7.0 per cent in August, Statistics Canada said…
OTTAWA – The Bank of Canada raised its key interest rate by three-quarters of a percentage point Wednesday and signalled this won’t be the last increase as it continues its battle against high inflation. The rate hike was in line…
OTTAWA – Inflation appears to have peaked but it’s still running hot and a supersized rate hike from the Bank of Canada next week is widely expected. Some economists think Wednesday’s hike could be the last for a while. “We…
OTTAWA – 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…
A one-two punch delivered by inflation and the resulting interest-rate increases could have several impacts on Canada’s P&C sector, including on claims costs, expense ratios, investment returns and the continued viability of the current hard market. Nearly all major industrialized…
OTTAWA – Economists are predicting an even higher reading of inflation for June as energy and food prices crept higher and the economy reopened further. The consumer price index in Canada hit a nearly 40-year high of 7.7 per cent…
OTTAWA – 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…
TORONTO – 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…
OTTAWA – 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,…
High 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…