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.

Ontario government investing $90 million in skilled trades programs

The province says the funding opens on Thursday to anyone who is unemployed or underemployed.

July travel on an upward trend, but is still a fraction of pre-pandemic levels

The agency says the number of trips by U.S. residents in July was 2.2 million, 11 times the number of trips taken in July 2021 but still about 60 per cent of the trips reported in July 2019.

Canadian employers sought to fill nearly one million jobs in Q2

Statistics Canada says employers were actively seeking to fill 997,000 jobs in the second quarter, the highest quarterly number on record.

Canada’s inflation rate cools in August but grocery prices continue to climb

In its latest monthly consumer price index (CPI) report, Statistics Canada said grocery prices rose at the fastest rate since 1981, with prices up 10.8 per cent compared with a year ago.

Ottawa’s unemployment rate falls to 3.4% in August, bucking national trend

It marks the capital’s lowest unemployment rate since at least March 2001 – the earliest date for which statistics are available.

Lower economic growth necessary to bring inflation down: BoC senior deputy governor

Bank of Canada senior deputy governor Carolyn Rogers says the journey back to two per cent inflation will take time and a that period of lower economic growth is necessary to bring inflation down.

Bank CEOs say higher rates starting to dampen growth

The heads of Canada's biggest banks say rising interest rates are starting to have their intended effect of slowing demand but that they continue to notch growth.

UPDATED: Bank of Canada raises key interest rate by 0.75%, says rates likely need to go higher

The Bank of Canada raised its key interest rate by three-quarters of a percentage point Wednesday and signalled this won't be the last increase as it continues its battle against high inflation.

Remote work debate intensifies as companies mandate return to office after Labour Day

A return-to-office showdown is pitting some bosses and workers against each other as the back-to-school season brings with it a renewed push to get employees back into the office.