Consumers still hungry for leisure travel, despite inflation, rate hikes: Transat CEO
Canadians are still gung-ho for travel to sun-splashed resorts and European getaways, in spite of higher inflation and interest rates, says Transat AT CEO.
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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.
Federal government will remove GST on new rental housing builds, senior source says
PM Justin Trudeau will announce Thursday the removal of the GST on construction of new rental apartment buildings, according to a senior government source.
Housing gap steady as lower incomes expected to offset construction slowdown: CMHC
Canada will be short about 3.5 million homes by the end of the decade compared with what’s needed to restore affordability, per CMHC.
Airline competition ramps up, setting stage for showdown and reducing (some) fares
Though Canadian flights have long been dominated by Air Canada and WestJet, the emergence of newer carriers including Flair Airlines and Lynx Air has shaken
Via Rail ramps up service, returning it to pre-pandemic levels
The ramp-up comes three-and-a-half years after the pandemic brought some operations to a screeching halt, when Via Rail suspended its cross-Canada routes and temporarily laid
Interest rate hikes might be over but don’t expect housing market to flare up: BMO
One Bay Street economist says it’s unlikely the housing market will flare up, despite the Bank of Canada’s decision to keep its key interest rate
Bank of Canada may need to raise interest rates again, despite this week’s hold: Macklem
Bank of Canada Governor Tiff Macklem said the central bank may have to raise interest rates further, given inflation may stay high for some time.
Zellers pop-ups land in remaining Hudson’s Bay stores, including Bayshore Shopping Centre
Hudson’s Bay is expanding its Zellers brand to even more of its department stores, with pop-ups set to open within all Hudson’s Bay stores that
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
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
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