BoC raises key interest rate to 5%, expects slower return to inflation target
The Bank of Canada raised its key interest rate by a quarter of a percentage point this morning, bringing it to 5 per cent.
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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.
As pandemic business loan repayment deadline looms, calls for extending deadline grow
New Democrats and a business group are calling on the federal government to extend the deadline for small businesses to repay loans they received from
Bank of Canada expected to raise rates next week, despite rise in unemployment rate
The Canadian labour market is showing some signs of softening as the unemployment rate rises and wage growth slows, but with another solid job gain
Businesses expect more, but slowing price, wage increases: Bank of Canada survey
Businesses continue to expect wage and price increases to be larger than normal, but they are shifting to closer to what they were before the
Canadian economy holds steady in April as real GDP remains unchanged, StatCan reports
Statistics Canada says the Canadian economy remained essentially unchanged in April, following a slight uptick in March.
Canada’s inflation rate tumbles to 3.4%, but forecasters still expect July rate hike
Statistics Canada says the country’s inflation rate fell to 3.4 per cent in May — the lowest it’s been since June 2021.
Businesses’ changing credit usage a worrying trend: Equifax
New data suggests a significant shift in credit usage among businesses in the first quarter of 2023, Equifax Canada said.
Bank of Canada raises key interest rate amid stubbornly high inflation
As high inflation persists, the key interest rate now sits at 4.75 per cent, the highest it’s been since 2001.
BoC may have to raise interest rates again this summer given recent momentum, economists say
Momentum in the Canadian economy is spurring speculation that an interest rate hike is on the way, but economists don’t expect the Bank of Canada
‘Good news’: Nixing Canadian experience rule spells opportunity for foreign engineers
Professional Engineers Ontario has said that dropping the Canadian work experience requirement for licence applications moves it to a model focused on competency, rather than
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