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.

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 gas prices.

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 of 2023.

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 due to the restrictions.

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 per cent.

Labour shortage, pandemic savings to soften blow of short-lived recession: report

Tight job market means unemployment might not rise as much as it typically would during a recession, Deloitte says in its latest Canadian economic outlook.

Office safety concerns grow as border restrictions ease, possible COVID-19 wave looms

Worker shortages mean many employees have additional leverage to push their bosses to accommodate their desire to keep working remotely, Ottawa lawyer says.
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