Bank of Canada raises interest rate by half percentage point, says more hikes to come
Economists were split on whether the Bank of Canada would go with half or three-quarters of a percentage point hike ahead of today’s decision.
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.
Bank of Canada raises interest rate by half percentage point, says more hikes to come
Economists were split on whether the Bank of Canada would go with half or three-quarters of a percentage point hike ahead of today’s decision.
Canadian economy lost almost $13B due to manufacturing labour shortage: report
The penalties and loss of sales resulting from these issues totalled $7.2 billion, according to Canadian Manufacturers and Exporters’ (CME).
Bank of Canada expected to raise interest rates on Wednesday as recession fears grow
Wednesday’s announcement would make it the sixth consecutive time the Bank of Canada raises interest rates this year in response to decades-high inflation.
Canada’s hotter than expected inflation reading sets stage for another rate hike
In its latest consumer price index report, Statistics Canada said the slight deceleration from 7.0 per cent inflation in August is mostly attributed to lower
Conference Board predicts economic growth to slow to near standstill until spring
The think tank says it expects there will be essentially zero economic growth from the second half of this year through to the first quarter
Most consumers and businesses expect recession; views on inflation diverge: BoC
Consumers have become more pessimistic about inflation in the short run, while business expectations for inflation have eased.
RBC economists say recession could arrive as early as Q1 of next year
In a new report, the economists say the downturn won’t hit households and businesses equally.
Hybrid work nudges engineering firm in a greener, more efficient direction
One of Ottawa’s largest engineering firms is re-engineering its approach to in-person work in response to the challenges of the past two years.
Travel industry braces for busy winter season as Canadian travellers ready for sun
Expert say that demand could spike further if remaining COVID-19 restrictions such as vaccine mandates are lifted, encouraging travellers who were previously hesitant to fly
Canadian economy grew slightly in July, Statistics Canada says
Statistics Canada said Thursday that the economy grew by 0.1 per cent in July, outperforming its preliminary estimate that pointed to a contraction of 0.1
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