Inflation is cooling, but the Bank of Canada isn’t done its fight: economists
September 20, 2022 Nojoud Al Mallees - THE CANADIAN PRESSOTTAWA – 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…
Bank of Canada raises key interest rate by 0.75%, says rates likely need to go higher
September 7, 2022 The Canadian PressOTTAWA – 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…
Bank of Canada expected to raise interest rate for fifth time at pivotal moment for economy
September 2, 2022 Nojoud Al Mallees - THE CANADIAN PRESSOTTAWA – 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…
Canadian economic growth lags expectations in Q2; July estimate points to contraction
August 31, 2022 The Canadian PressOTTAWA – 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…
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…
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…
Canada headed towards ‘moderate’ recession in 2023: RBC economists
July 7, 2022 Adena Ali - THE CANADIAN PRESSTORONTO – 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…
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…