The good and bad news for reinsurers
August 31, 2022 by Jason ContantThe 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…
Inflation and higher interest rates may alter P&C market
August 2, 2022 Glenn McGillivrayA 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…
Canada’s inflation rate climbed to 8.1% in June as gas prices soared
July 20, 2022 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 predict inflation climbed even higher in June amid ‘reopening effect’
July 18, 2022 Nojoud Al Mallees - THE CANADIAN PRESSOTTAWA – 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…
Economists expect Bank of Canada to hike key interest rate by 0.75%
July 12, 2022 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…
Bank of Canada surveys suggest business and consumer inflation expectations up
July 4, 2022 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,…
Bank of Canada says economy can handle higher interest rates
June 10, 2022 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…
Bank of Canada raises key rate by half a point amid stubbornly high inflation
June 1, 2022 Christopher Reynolds - THE CANADIAN PRESSOTTAWA – In an unprecedented move, the Bank of Canada has announced a major increase to its key interest rate for the second time in two months as it forecasts higher consumer prices to come this year. The central bank…
Inflation rate up slightly in April to 6.8 per cent: Statistics Canada
May 18, 2022 The Canadian PressOTTAWA – The cost of nearly everything at the grocery store continued to climb higher to push the annual inflation rate up in April. Statistics Canada said Wednesday that its consumer price index for April rose 6.8 per cent compared…
Key interest rate could soon go up another half percentage point, central bank says
April 25, 2022 The Canadian PressOTTAWA – The governor of the Bank of Canada is signalling Canada’s key interest rate could go up another half percentage point in June to help wrestle inflation under control. Tiff Macklem is appearing at the House of Commons standing…
Bank of Canada governor says he won’t ‘rule anything out’ on rates
April 22, 2022 Adena Ali - THE CANADIAN PRESSTORONTO – On a day when the Federal Reserve spooked markets with its tough talk on interest rates, Bank of Canada governor Tiff Macklem says he won’t “rule anything out” when it comes to the central bank’s own interest rate…
Bank of Canada raises key interest rate and warns further hikes still to come
April 13, 2022 The Canadian PressOTTAWA – The Bank of Canada raised its key interest rate by the highest amount in more than 20 years and warned more rate hikes are coming as it increased its outlook for inflation. The central bank hiked its policy…