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The increased costs of inflation on auto insurance
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Ontario auto: The impact of inflation on rate increases

September 22, 2022 by Jason Contant

Financial Services Regulatory Authority of Ontario’s (FSRA) recent approval of auto insurance rate increases for several insurers signals inflation may finally be making its way into the world of auto insurance prices, according to rate comparison site Ratesdotca. “Currently, FSRA

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Inflation is cooling, but the Bank of Canada isn’t done its fight: economists

September 20, 2022 Nojoud Al Mallees - THE CANADIAN PRESS

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

The Bank of Canada pictured in Ottawa
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Bank of Canada raises key interest rate by 0.75%, says rates likely need to go higher

September 7, 2022 The Canadian Press

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

Percentage sign sitting over blue financial graph background
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Bank of Canada expected to raise interest rate for fifth time at pivotal moment for economy

September 2, 2022 Nojoud Al Mallees - THE CANADIAN PRESS

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

Concept of economic growth in Canada
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Canadian economic growth lags expectations in Q2; July estimate points to contraction

August 31, 2022 The Canadian Press

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 beam balancing on a ball, symbolizing equilibrium
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The good and bad news for reinsurers

August 31, 2022 by Jason Contant

The global reinsurance industry appears to be in a “state of equilibrium,” with positive and negative factors countering each other, according to a new report from AM Best. Despite lingering economic and operational challenges stemming from the COVID-19 pandemic, AM

Balloon about to burst
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Inflation and higher interest rates may alter P&C market

August 2, 2022 Glenn McGillivray

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

Gas prices in Carleton Place, Ont. on May 17, 2022
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Canada’s inflation rate climbed to 8.1% in June as gas prices soared

July 20, 2022 The Canadian Press

OTTAWA – 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

A Metro truck pulls out of a food distribution centre in Ottawa.
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Economists predict inflation climbed even higher in June amid ‘reopening effect’

July 18, 2022 Nojoud Al Mallees - THE CANADIAN PRESS

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

Magnifying glass looking at interest rates
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Economists expect Bank of Canada to hike key interest rate by 0.75%

July 12, 2022 Nojoud Al Mallees - THE CANADIAN PRESS

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

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Bank of Canada surveys suggest business and consumer inflation expectations up

July 4, 2022 Craig Wong - THE CANADIAN PRESS

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,

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Bank of Canada says economy can handle higher interest rates

June 10, 2022 Ian Bickis - THE CANADIAN PRESS

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