Bank of Canada keeps key interest rate target on hold despite more upbeat forecast
March 11, 2021 Jordan Press - THE CANADIAN PRESSOTTAWA – 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…
RBC CEO sees inflationary pressure building as economy bounces back
March 9, 2021 Anita Balakrishnan - THE CANADIAN PRESSTORONTO – 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…
Canada’s hardest-hit commercial lines — and a reason for optimism
February 18, 2021 by David GambrillCommercial 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…
Bank of Canada keeps key rate at 0.25 per cent, warns of economic decline in 2021
January 20, 2021 Jordan Press - THE CANADIAN PRESSOTTAWA – 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…
Intact warns of indirect economic impact from COVID
September 29, 2020 by Greg MeckbachThe economic impact of the COVID-19 pandemic is one of the biggest risks facing Canadian insurers, executives told a recent investors’ conference. “What can happen to us is what we call indirect losses,” Intact Financial Corp. CFO Louis Marcotte said…
How real are concerns about a recession?
August 23, 2019 by Adam MalikSo long as a trade war and tariffs being thrown around, recessionary fears will always linger over the head of the economy. But that doesn’t mean it’s all storm clouds. One economist believes Canada is in good shape. The latest…
Economic forecast: What it means for the insurance industry
August 1, 2019 by Adam MalikCanada’s economy is expected to pick up in the coming months after going through a bit of a cold spell. But risks both domestically and abroad could get things off-kilter, a recent report found. An upward trend for the economy…
How long you might wait for interest rate hikes
July 12, 2019 by Greg MeckbachInterest rates in Canada won’t change for the next 18 months, but what happens after that is hard to predict, a Bank of Montreal economics expert suggested Thursday. The Bank of Canada announced Wednesday it is keeping the overnight interest…
How brokers can talk clients out of declining coverages
July 10, 2019 by Adam MalikCompanies looking to save a few bucks by declining certain insurance coverage options are putting themselves at risk, and it’s up to brokers to ensure their clients understand the consequences. What do you tell a commercial client who doesn’t want…
How the economy could spell trouble for insurance
July 8, 2019 by Adam MalikAs the economy goes, so does the insurance industry. But what happens where things aren’t necessarily taking off, but not falling by the wayside either? Business leaders are increasingly hopeful about the economy. A recent quarterly survey released by the…
What needs to happen before interest rates rise
January 9, 2019 Andy Blatchford - THE CANADIAN PRESSOTTAWA – The Bank of Canada left its trend-setting interest rate unchanged at 1.75 per cent Wednesday as the sharp decline in oil prices temporarily dims its economic outlook for the coming months. Before long, however, the central bank expects…
Why interest rates might not rise further
December 4, 2018 Craig Wong - THE CANADIAN PRESSOTTAWA – The pace of economic growth in Canada slowed in the third quarter as business investment spending fell and the growth in household spending slowed, raising questions about the future pace of interest rate hikes by the Bank of…