Exiting the commercial hard market may be prolonged: Insurers
April 5, 2022 by David GambrillCanada’s P&C insurers are exposed to historically-high inflation rates, which may prolong the hard market in commercial lines, Canada’s association of home, auto and business warns. “On the commercial side, I think this inflation is either going to prolong the…
Businesses bracing for high inflation to stick around over next two years: survey
April 4, 2022 Adena Ali - THE CANADIAN PRESSThe Bank of Canada said Monday that Canadian businesses expect average inflation to remain elevated over the next two years, but see interest rate moves and better supply chains cooling things off longer term. The central bank’s latest Business Outlook…
Bank of Canada says near-term inflation higher amid Ukraine war
March 25, 2022 The Canadian PressOTTAWA – The Russian invasion of Ukraine is adding to inflationary pressures around the world and in Canada, a senior Bank of Canada official said Friday. In a speech by webcast to a conference at the U.S. Federal Reserve Bank…
How inflation could prolong the hard market
February 25, 2022 by David GambrillInflation could prolong the hard market in Canada’s property and casualty lines, brokers caution. RMS Canada reports that inflation will hit 5% in 2022 before approaching 3% by the year’s end. “Persistent inflation is primarily due to supply constraints and…
Increased productivity, business investment, needed to temper inflation
February 9, 2022 The Canadian PressOTTAWA – The governor of the Bank of Canada says higher interest rates are coming, but businesses also need to boost productivity to help keep rising prices in check over the long term. Tiff Macklem, speaking virtually at a Canadian…
Bank of Canada keeps key interest rate target on hold, but warns of looming hikes
January 26, 2022 Jordan Press - THE CANADIAN PRESSOTTAWA – The Bank of Canada is keeping its key interest rate target on hold at 0.25 per cent, but warning it won’t stay there for much longer. The trendsetting rate has been at its rock-bottom level since March 2020…
Annual inflation rate hits 30-year high, upping pressure on Bank of Canada
January 19, 2022 Jordan Press - THE CANADIAN PRESSOTTAWA – Headline inflation in Canada hit a 30-year high at the end 2021 with warnings from economists that the pace of price increases could rise even higher and stirring expectations of a central bank response before the month is…
Bank of Canada keeps key interest rate target on hold at 0.25%
December 8, 2021 Jordan Press - THE CANADIAN PRESSOTTAWA – Canada’s central bank has sent a warning that increases in the cost of living would continue into next year, but signalled it wasn’t yet prepared to pull its key lever to rein in inflation. The annual pace of inflation in…
Annual inflation rate rises to 4.7% in October, Statistics Canada says
November 17, 2021 by Jason ContantOTTAWA – Statistics Canada says the annual pace of inflation in October rose to 4.7 per cent as the consumer price index posted its largest year-over-year gain since February 2003. The increase compared with a year-over-year increase in the consumer…
Bank of Canada warns of prolonged inflation
October 27, 2021 Jordan Press - THE CANADIAN PRESSOTTAWA – The Bank of Canada is warning inflation will stay higher for longer than it previously forecast and signalled that an interest rate hike may be coming sooner than expected. The central bank said Wednesday it now forecasts that…
Businesses see higher inflation, wages and job changes, Bank of Canada reports
October 18, 2021 Jordan Press - THE CANADIAN PRESSOTTAWA – 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,…
Annual rate of inflation hits 3.1% in June, down slightly from May high
July 28, 2021 Jordan Press - THE CANADIAN PRESSOTTAWA – The country’s headline inflation barometer registered a year-over-year increase of 3.1 per cent last month as the pace of price growth slowed in June compared with the decade-fast pace one month ago. June’s reading for the consumer price…