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.

Inflation may have peaked in June as gas prices soared: economists

The increase in the consumer price index for the month was largely due to gasoline prices, which shot up by more than 50 per cent from with a year ago.

Economists predict inflation climbed even higher in June amid ‘reopening effect’

Economists are predicting an even higher reading of inflation for June as energy and food prices crept higher and the economy reopened further.

‘Tough’ 6-12 months ahead for Canadians amid inflation, rate hikes: expert

As Canadians face a double whammy of skyrocketing inflation and the largest interest rate hike seen in 24 years, one expert is warning that prices won't be coming down anytime soon.

Bank of Canada targets inflation expectations with full percentage point rate hike

The Bank of Canada signaled a more aggressive approach to bringing skyrocketing inflation back under control as it announced the largest single rate increase since August 1998.

What Canada’s telcos need to consider when coming up with crisis plan

One former telecom executive says there is the risk of creating a situation where a competitor's network becomes overwhelmed and service is ultimately degraded.

Conference Board cuts economic growth forecast for 2022 and 2023

In its new two-year outlook, the think tank says it is not expecting an economic contraction in Canada, but the risks are creeping up.

Small business group calls for relief at pumps amid high fuel costs

The Canadian Federation of Independent Business says record gas prices, supply chain snarls and labour shortages have pushed the cost of doing business through the roof.

Economists expect Bank of Canada to hike key interest rate by 0.75% on Wednesday

The Bank of Canada raised its key interest rate by half a percentage point on June 1, bringing it to 1.5 per cent. Since then, it has signalled a willingness to move in a more aggressive direction.