Weakening economy convinces BoC to hold key rate, but door to more hikes stays open
The Bank of Canada held its key interest rate steady at five per cent on Wednesday, deciding against another rate hike as the economy begins
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Canada & World
Canadian and international business news relevant to local business leaders here in Ottawa. Includes stories related to inflation, interest rates, employment, major government announcements and more.
Economists see Bank of Canada holding on rates after surprise GDP contraction
Economists say the latest GDP data from Statistics Canada showing a contraction in the economy suggests the Bank of Canada’s rate hiking campaign may be
Online News Act could see Google, Meta pay combined $230 million to Canadian media
The federal government has put a price tag on how much it would like to see Google and Meta spend under an act requiring the
Canadian pot stocks climb on reports that U.S. may ease cannabis restrictions
Embattled Canadian cannabis stocks have been climbing on the hope that the U.S. may ease restrictions on the substance.
Kimberly-Clark pulling Kleenex tissues from store shelves in Canada
U.S. manufacturer Kimberly-Clark says its Kleenex consumer facial tissue business is leaving Canada this month.
Return of live shows after COVID closures revived performing arts industry: StatCan
A new report from Statistics Canada says the return of live shows and events after pandemic restrictions revived the country’s performing arts industry in 2022,
Local tourism still recovering, China decision could have ‘huge impact’
China lifted a pandemic ban on group tours to countries last week including the United States and Australia, but tourists are still barred from group
Report says fintech investments down in first half of 2023 as valuations tumble
A report by KPMG in Canada says investment in Canadian fintech companies plunged in the first half of the year as valuations fell to levels
July home sales see largest annual rise in two years: CREA
July home sales saw the largest year-over-year increase in more than two years, but were little changed from June, the Canadian Real Estate Association said
As inflation jumps to 3.3 per cent in July, economists say uptick is bad news for BoC
Canada’s annual inflation rate rose to 3.3 per cent in July as worries grow that progress on getting prices under control will stall.
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