The Bank of Canada expects to see a clear pullback in inflation by the spring, but it isn't taking any chances in its efforts to get the inflation rate back to two per cent.
Tourism businesses in the province are generating 64 per cent of the revenues they saw in 2019, on average, and seven in 10 report they have taken on debt to stay afloat.
Forecasters anticipate the central bank will raise its key interest rate, which is currently at 3.75 per cent, by either a quarter or half a percentage point next week.
Since the global onset of COVID-19, Canada has been closing the gap with the United States when it comes to attracting and keeping new permanent residents.